Fortis Capital Management LLC Sells 4,638 Shares of Alphabet Inc. $GOOG

Fortis Capital Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 57,552 shares of the information services provider’s stock after selling 4,638 shares during the quarter. Alphabet comprises approximately 1.7% of Fortis Capital Management LLC’s holdings, making the stock its 6th largest position. Fortis Capital Management LLC’s holdings in Alphabet were worth $16,509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Auto Owners Insurance Co lifted its holdings in Alphabet by 38,409.2% in the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock worth $5,643,262,000 after purchasing an additional 179,369,280 shares during the period. J. Stern & Co. LLP increased its stake in Alphabet by 28,482.8% during the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock valued at $35,174,429,000 after buying an additional 111,699,704 shares during the period. Norges Bank bought a new stake in shares of Alphabet during the 4th quarter worth about $18,093,665,000. Cardano Risk Management B.V. raised its position in shares of Alphabet by 850.3% during the 4th quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider’s stock worth $5,551,938,000 after buying an additional 15,830,754 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after acquiring an additional 8,128,234 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the sale, the director directly owned 1,481 shares of the company’s stock, valued at $545,941.03. The trade was a 41.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares of the company’s stock, valued at $26,298,044.10. The trade was a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,415 shares of company stock worth $7,672,279 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Stifel Nicolaus set a $420.00 price objective on Alphabet in a report on Wednesday, May 20th. Scotiabank reaffirmed an “outperform” rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. UBS Group reissued a “neutral” rating and issued a $379.00 price target (down from $400.00) on shares of Alphabet in a report on Thursday. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a research note on Wednesday. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $410.09.

Alphabet Trading Up 0.2%

NASDAQ:GOOG opened at $319.09 on Friday. The stock has a fifty day simple moving average of $360.63 and a 200 day simple moving average of $337.38. The firm has a market capitalization of $3.87 trillion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 1.31 and a beta of 1.23. Alphabet Inc. has a 1-year low of $188.70 and a 1-year high of $404.47. The company has a quick ratio of 1.92, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion during the quarter, compared to analyst estimates of $116.53 billion. During the same period in the prior year, the firm earned $2.31 earnings per share. The business’s quarterly revenue was up 24.2% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 14.34 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 4.42%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet posted a strong Q2 beat, with revenue and EPS coming in ahead of expectations, while Google Cloud revenue surged 82% and cloud margins improved sharply.
• Positive Sentiment: AI and product demand remain strong, with management saying AI usage is rising across Search, Cloud, and Gemini, supporting the long-term growth story.
• Positive Sentiment: Several analysts reiterated bullish views or raised targets, and multiple commentary pieces argued the stock looks attractive after the pullback.
• Positive Sentiment: Verizon signed a deal worth more than $1 billion with Google for dark fiber connectivity, adding another sign of infrastructure demand tied to Alphabet’s data-center buildout. Article Title
• Neutral Sentiment: Waymo is reportedly considering ending its Uber partnership, which could affect how quickly Alphabet’s robotaxi business scales, but the direct financial impact is still unclear. Article Title
• Neutral Sentiment: Alphabet also disclosed a large SpaceX stake and saw some institutional holders trim positions, but these items are secondary to the main debate over AI spending and cash flow.
• Negative Sentiment: Investors were unnerved by Alphabet’s higher CapEx guidance and negative free cash flow, which raised concerns that AI spending may be outpacing near-term returns.
• Negative Sentiment: Alphabet was also hit by an EU antitrust fine of about $1 billion, adding another regulatory overhang. Article Title
• Negative Sentiment: Moody’s warned that the industry-wide AI buildout could threaten credit quality at Alphabet and other hyperscalers, reinforcing concerns about balance-sheet strain from heavy infrastructure investment. Article Title

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.