Fortune Financial Advisors LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 19,808 shares of the information services provider’s stock after acquiring an additional 270 shares during the quarter. Alphabet accounts for about 3.4% of Fortune Financial Advisors LLC’s portfolio, making the stock its 4th biggest holding. Fortune Financial Advisors LLC’s holdings in Alphabet were worth $3,750,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. LMR Partners LLP acquired a new stake in Alphabet in the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $39,000. Denver PWM LLC lifted its position in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Alphabet during the third quarter worth $66,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on GOOGL. Loop Capital upped their price objective on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Robert W. Baird reiterated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. KeyCorp boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. cut their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.62.
Check Out Our Latest Analysis on GOOGL
Alphabet Stock Performance
Shares of GOOGL opened at $185.34 on Friday. The company has a 50-day simple moving average of $191.28 and a 200-day simple moving average of $174.64. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.27 trillion, a PE ratio of 24.58, a P/E/G ratio of 1.31 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Equities research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.
Insider Activity at Alphabet
In related news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,529 shares of company stock valued at $16,600,078. 11.55% of the stock is owned by insiders.
About Alphabet
(Free Report)
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.
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