Fortitude Family Office LLC Buys 60 Shares of Alphabet Inc. (NASDAQ:GOOG)

Fortitude Family Office LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the 4th quarter, HoldingsChannel reports. The fund owned 8,323 shares of the information services provider’s stock after acquiring an additional 60 shares during the quarter. Fortitude Family Office LLC’s holdings in Alphabet were worth $1,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Weiss Asset Management LP bought a new stake in shares of Alphabet in the third quarter valued at about $25,000. Abich Financial Wealth Management LLC raised its position in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new stake in Alphabet in the 3rd quarter valued at approximately $33,000. HWG Holdings LP acquired a new position in Alphabet during the 2nd quarter worth approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. grew its stake in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG stock opened at $195.39 on Friday. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $202.88. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.34 and a beta of 0.99. The company has a 50-day simple moving average of $183.71 and a 200 day simple moving average of $174.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. On average, sell-side analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the completion of the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,406,343.27. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 155,887 shares of company stock worth $27,996,356 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of several recent research reports. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Wells Fargo & Company increased their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

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.