Fortitude Advisory Group L.L.C. Has $3.35 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• Fortitude Advisory Group increased its Alphabet stake by 29.3% in the second quarter, owning 9,372 shares worth approximately $3.35 million. Alphabet represents 1.3% of the firm’s portfolio.
• Alphabet reported strong quarterly results, with earnings per share of $9.11 versus the $2.89 consensus and revenue of $119.8 billion, exceeding estimates of $117.07 billion.
• Analysts maintain a positive outlook, with a consensus “Buy” rating and average price target of $422.16, though heavy AI infrastructure spending, higher interest rates and antitrust remedies remain potential risks.

Fortitude Advisory Group L.L.C. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 29.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,372 shares of the information services provider's stock after acquiring an additional 2,123 shares during the quarter. Alphabet comprises 1.3% of Fortitude Advisory Group L.L.C.'s investment portfolio, making the stock its 14th biggest holding. Fortitude Advisory Group L.L.C.'s holdings in Alphabet were worth $3,349,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Invesco Ltd. lifted its stake in Alphabet by 0.5% in the fourth quarter. Invesco Ltd. now owns 45,394,474 shares of the information services provider's stock valued at $14,208,470,000 after buying an additional 208,362 shares during the period. Fisher Asset Management LLC grew its position in shares of Alphabet by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 38,106,033 shares of the information services provider's stock worth $11,927,189,000 after buying an additional 583,078 shares during the period. Nuveen LLC grew its position in shares of Alphabet by 1.7% during the 4th quarter. Nuveen LLC now owns 29,166,806 shares of the information services provider's stock worth $9,129,210,000 after buying an additional 478,848 shares during the period. Amundi increased its stake in shares of Alphabet by 12.7% in the 1st quarter. Amundi now owns 31,745,979 shares of the information services provider's stock valued at $9,128,850,000 after acquiring an additional 3,574,810 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Alphabet by 10.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,724,321 shares of the information services provider's stock valued at $6,334,186,000 after acquiring an additional 1,631,721 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $349.54 on Friday. The firm's 50-day simple moving average is $345.20 and its two-hundred day simple moving average is $344.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a 52 week low of $235.84 and a 52 week high of $408.61. The firm has a market cap of $4.27 trillion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 1.01 and a beta of 1.22.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. As a group, equities analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Monday, September 7th were paid a $0.22 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 4.42%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI chip sales add a new revenue stream: Alphabet began recognizing revenue from sales of its internally developed AI chip systems in the second quarter. Investors may view the business as both a potential growth driver and a way to monetize Google’s technology infrastructure. 2 Stocks to Buy as Google Starts Selling Its AI Chips
• Positive Sentiment: Analyst raises price target: Tigress Financial Partners increased its price target for GOOGL to $485, reflecting confidence in Alphabet’s Search, Cloud, YouTube, Gemini and custom-chip opportunities. Alphabet Price Target Raised to $485
• Positive Sentiment: Waymo expands internationally: Alphabet’s autonomous-driving unit plans to launch an all-electric robotaxi service in Singapore by 2028, strengthening the long-term investment case for Alphabet’s “Other Bets” portfolio. Waymo to Bring Autonomous Ride-Hailing to Singapore
• Positive Sentiment: Options activity signals bullish positioning: Investors purchased roughly 520,000 Alphabet call options, above typical volume, indicating increased speculative interest in further upside.
• Neutral Sentiment: Ad-tech ruling avoids a breakup but imposes restrictions: A federal judge ordered Google to share more auction data with publishers and appoint an antitrust monitor, but rejected a forced breakup. Avoiding structural separation limits the immediate risk to Alphabet’s advertising business, while the behavioral remedies could pressure operations and margins. Tech Watchdogs Criticize Google Adtech Ruling
• Negative Sentiment: Higher rates and AI spending remain risks: The Federal Reserve’s rate increase and Alphabet’s heavy investment in AI infrastructure could keep pressure on free cash flow and valuation, even as Cloud backlog and AI demand remain strong.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 112 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the transaction, the director directly owned 18,833 shares of the company's stock, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the sale, the chief accounting officer directly owned 27,386 shares in the company, valued at $9,125,015.20. This trade represents a 1.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 450,875 shares of company stock valued at $11,984,482 in the last quarter. Corporate insiders own 11.61% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. KeyCorp raised their price target on shares of Alphabet from $425.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Citizens Jmp reiterated a "market outperform" rating and set a $515.00 price objective on shares of Alphabet in a report on Wednesday, July 22nd. Evercore reissued an "outperform" rating and set a $450.00 price objective on shares of Alphabet in a research report on Wednesday. Zacks Research lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Finally, Pivotal Research reissued a "buy" rating and issued a $475.00 price objective (up from $470.00) on shares of Alphabet in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $422.16.

Alphabet Profile

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet's largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.

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