Fortis Capital Advisors LLC Acquires 417 Shares of Alphabet Inc. $GOOG

Fortis Capital Advisors LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,205 shares of the information services provider’s stock after purchasing an additional 417 shares during the quarter. Alphabet accounts for 0.7% of Fortis Capital Advisors LLC’s portfolio, making the stock its 22nd largest holding. Fortis Capital Advisors LLC’s holdings in Alphabet were worth $3,313,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. ARQ Wealth Advisors LLC grew its position in Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after acquiring an additional 1,400 shares during the period. Independence Bank of Kentucky boosted its stake in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after purchasing an additional 1,376 shares in the last quarter. Fermata Advisors LLC boosted its stake in shares of Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after purchasing an additional 259 shares in the last quarter. jvl associates llc grew its holdings in shares of Alphabet by 3.5% in the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock worth $1,571,000 after purchasing an additional 343 shares during the last quarter. Finally, Members Trust Co increased its position in shares of Alphabet by 84.7% during the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider’s stock worth $781,000 after purchasing an additional 2,292 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOOG. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. KeyCorp set a $265.00 price target on Alphabet in a report on Wednesday, September 3rd. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, UBS Group raised their target price on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $227.56.

Alphabet Stock Up 2.5%

Shares of GOOG opened at $239.94 on Wednesday. The business’s fifty day moving average price is $199.04 and its two-hundred day moving average price is $177.55. The firm has a market capitalization of $2.90 trillion, a price-to-earnings ratio of 25.55, a PEG ratio of 1.58 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $240.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.89 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $49,208,380 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

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.