Fortem Financial Group LLC Has $2.83 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Fortem Financial Group LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 93.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,080 shares of the information services provider’s stock after buying an additional 8,242 shares during the quarter. Alphabet accounts for approximately 1.2% of Fortem Financial Group LLC’s holdings, making the stock its 22nd biggest holding. Fortem Financial Group LLC’s holdings in Alphabet were worth $2,833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Arete Wealth Advisors LLC bought a new position in shares of Alphabet during the 3rd quarter worth approximately $8,960,000. Coldstream Capital Management Inc. lifted its holdings in shares of Alphabet by 16.6% during the third quarter. Coldstream Capital Management Inc. now owns 133,823 shares of the information services provider’s stock valued at $22,391,000 after acquiring an additional 19,057 shares during the period. Strait & Sound Wealth Management LLC boosted its stake in shares of Alphabet by 44.6% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 27,321 shares of the information services provider’s stock valued at $4,531,000 after purchasing an additional 8,433 shares in the last quarter. Synergy Financial Group LTD grew its holdings in shares of Alphabet by 10.6% in the 3rd quarter. Synergy Financial Group LTD now owns 4,856 shares of the information services provider’s stock worth $805,000 after purchasing an additional 465 shares during the last quarter. Finally, RB Capital Management LLC increased its position in shares of Alphabet by 3.2% during the 3rd quarter. RB Capital Management LLC now owns 32,539 shares of the information services provider’s stock worth $5,397,000 after purchasing an additional 1,023 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Activity

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the sale, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,957 shares of company stock worth $31,358,687 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $188.40 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $2.31 trillion, a PE ratio of 24.99, a P/E/G ratio of 1.39 and a beta of 1.01. The stock has a 50 day simple moving average of $173.46 and a 200 day simple moving average of $171.09. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $201.42.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Sanford C. Bernstein lifted their price objective on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $206.69.

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.