Fortis Advisors LLC Has $1.62 Million Holdings in Alphabet Inc. $GOOG

Fortis Advisors LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,109 shares of the information services provider’s stock after selling 750 shares during the quarter. Alphabet accounts for approximately 1.0% of Fortis Advisors LLC’s investment portfolio, making the stock its 23rd largest holding. Fortis Advisors LLC’s holdings in Alphabet were worth $1,616,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. IFS Advisors LLC grew its holdings in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley grew its holdings in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC grew its holdings in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $26,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GOOG shares. Scotiabank raised their target price on Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 22nd. Morgan Stanley raised their target price on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. JPMorgan Chase & Co. raised their target price on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Oppenheimer restated an “outperform” rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, Mizuho upgraded Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $241.00.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,738 shares of company stock worth $59,135,475. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Down 1.9%

Shares of GOOG opened at $237.49 on Friday. The stock has a fifty day moving average price of $226.97 and a two-hundred day moving average price of $189.81. 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 Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The company has a market cap of $2.87 trillion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.60 and a beta of 1.00.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s payout ratio is presently 8.95%.

Alphabet 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.