Fortis Advisors LLC Has $1.81 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Fortis Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,492 shares of the information services provider’s stock after selling 250 shares during the period. Alphabet comprises 1.2% of Fortis Advisors LLC’s holdings, making the stock its 23rd largest holding. Fortis Advisors LLC’s holdings in Alphabet were worth $1,808,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC raised its holdings in Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after buying an additional 5,655,022 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after acquiring an additional 3,113,395 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Alphabet by 65.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after acquiring an additional 2,500,621 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Alphabet by 27.8% during the second quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock worth $1,375,512,000 after purchasing an additional 1,632,691 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Alphabet by 182.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock worth $422,331,000 after purchasing an additional 1,630,701 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 0.6 %

Shares of GOOG stock opened at $191.05 on Wednesday. The firm has a fifty day moving average of $184.95 and a 200-day moving average of $174.55. The stock has a market cap of $2.34 trillion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $202.88. 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 posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.55 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. 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 stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 130,553 shares of company stock valued at $23,817,951 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. Wells Fargo & Company boosted 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. UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Canaccord Genuity Group lifted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays raised their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

About Alphabet

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.