Alphabet Inc. $GOOGL Shares Sold by Forte Capital LLC ADV

Key Points

• Forte Capital LLC ADV reduced its holdings in Alphabet Inc. by 1.2% during Q2, now owning 115,828 shares valued at $20.4 million, making it their 10th largest investment.
• Alphabet reported earnings per share of $2.31 for the latest quarter, exceeding estimates, with revenue of $96.43 billion, significantly surpassing analyst expectations of $93.60 billion.
• The company recently declared a quarterly dividend of $0.21 per share, representing a 0.3% yield and reflecting a dividend payout ratio of 8.95%.

Forte Capital LLC ADV decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,828 shares of the information services provider's stock after selling 1,441 shares during the period. Alphabet accounts for 2.2% of Forte Capital LLC ADV's investment portfolio, making the stock its 10th biggest holding. Forte Capital LLC ADV's holdings in Alphabet were worth $20,412,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Guardian Wealth Management Inc. lifted its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the first quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the first quarter valued at about $28,000. NBZ Investment Advisors LLC raised its position in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the first quarter valued at about $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $246.54 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.98 trillion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01. The firm has a 50-day moving average price of $215.93 and a 200 day moving average price of $183.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. KeyCorp upped their price objective on shares of Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Truist Financial upped their price objective on shares of Alphabet from $225.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Susquehanna upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Stifel Nicolaus upped their price objective on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, Loop Capital reaffirmed a "hold" rating and set a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $233.44.

Insider Activity

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 258,088 shares of company stock valued at $52,405,304. Corporate insiders own 11.64% of the company's stock.

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.

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