Fidelis Capital Partners LLC Has $12.20 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Fidelis Capital Partners LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 74,429 shares of the information services provider’s stock after purchasing an additional 1,635 shares during the period. Alphabet accounts for approximately 1.3% of Fidelis Capital Partners LLC’s portfolio, making the stock its 18th largest position. Fidelis Capital Partners LLC’s holdings in Alphabet were worth $12,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the 1st quarter valued at $26,000. LSV Asset Management acquired a new position in shares of Alphabet during the 4th quarter valued at $27,000. Goodman Advisory Group LLC bought a new stake in Alphabet during the 1st quarter valued at $32,000. Finally, WealthTrak Capital Management LLC bought a new stake in Alphabet during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 0.6%

Shares of NASDAQ GOOG opened at $178.70 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.25 and a beta of 1.01. The business has a 50-day moving average of $171.19 and a 200-day moving average of $175.18.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Alphabet’s revenue was up 12.0% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company’s stock, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares of the company’s stock, valued at approximately $44,695,000. This represents a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock valued at $36,330,928 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Susquehanna restated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday. Oppenheimer restated an “outperform” rating and issued a $220.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Wednesday. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Alphabet in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and six have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.80.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.