7,370 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by Fortitude Family Office LLC

Fortitude Family Office LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGLFree Report) during the fourth quarter, HoldingsChannel reports. The firm purchased 7,370 shares of the information services provider’s stock, valued at approximately $1,030,000. Alphabet accounts for approximately 0.8% of Fortitude Family Office LLC’s portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds also recently bought and sold shares of the company. Spreng Capital Management Inc. raised its stake in Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after acquiring an additional 5 shares during the period. West Family Investments Inc. raised its stake in Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares during the period. Maple Capital Management Inc. raised its position in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares during the last quarter. Private Advisory Group LLC raised its position in shares of Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 7 shares during the last quarter. Finally, Weik Capital Management raised its position in shares of Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares during the last quarter. Institutional investors own 35.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOGL. Redburn Atlantic lifted their price objective on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Wells Fargo & Company lifted their price objective on shares of Alphabet from $141.00 to $144.00 and gave the company an “equal weight” rating in a research report on Monday, March 18th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. BMO Capital Markets lifted their price objective on shares of Alphabet from $170.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, Mizuho raised their target price on shares of Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Five research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $155.48.

Read Our Latest Report on GOOGL

Alphabet Stock Up 2.1 %

NASDAQ:GOOGL opened at $150.77 on Friday. Alphabet Inc. has a twelve month low of $99.74 and a twelve month high of $153.78. The company has a market cap of $1.87 trillion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. The stock has a fifty day simple moving average of $142.86 and a 200-day simple moving average of $137.68. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the company earned $1.05 earnings per share. Analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current year.

Insider Activity at Alphabet

In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total value of $28,698.00. Following the completion of the sale, the director now directly owns 6,784 shares in the company, valued at $973,436.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders sold 279,659 shares of company stock worth $39,460,310 over the last three months. 0.88% of the stock is owned by corporate insiders.

Alphabet Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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