Fortitude Family Office LLC Has $1.86 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• Fortitude Family Office LLC raised its holdings in Alphabet Inc. by 19.3% during the second quarter, increasing its total investment to $1.86 million with 10,576 shares owned.
• Insider trading saw significant activity, with CAO Amie Thuener O'toole and Director Kavitark Ram Shriram selling shares worth a total of $4.13 million in recent months, reflecting changes in their positions.
• Alphabet announced a $0.21 quarterly dividend paid on September 15th, resulting in a yield of 0.3% and a dividend payout ratio of 8.95%.

Fortitude Family Office LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,576 shares of the information services provider's stock after acquiring an additional 1,714 shares during the period. Fortitude Family Office LLC's holdings in Alphabet were worth $1,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Brighton Jones LLC grew its position in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in Alphabet in the 4th quarter worth about $449,000. Fire Capital Management LLC bought a new stake in Alphabet in the 4th quarter worth about $374,000. Finally, Milestone Asset Management Group LLC bought a new stake in Alphabet in the 4th quarter worth about $2,201,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock valued at $52,405,304 in the last quarter. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Down 0.5%

GOOGL opened at $245.79 on Friday. The company has a 50 day moving average of $214.70 and a 200 day moving average of $182.46. The company has a market cap of $2.97 trillion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOGL. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price objective (up from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Tigress Financial increased their target price on shares of Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research report on Friday, September 5th. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Westpark Capital increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. 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 stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $232.90.

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.

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