Biltmore Family Office LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Biltmore Family Office LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,101 shares of the information services provider’s stock after purchasing an additional 661 shares during the period. Alphabet comprises approximately 0.7% of Biltmore Family Office LLC’s investment portfolio, making the stock its 23rd biggest holding. Biltmore Family Office LLC’s holdings in Alphabet were worth $4,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Weiss Asset Management LP purchased a new position in Alphabet during the third quarter worth approximately $25,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth $27,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet in the 3rd quarter valued at about $33,000. WealthTrak Capital Management LLC purchased a new position in Alphabet during the fourth quarter worth approximately $38,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Alphabet during the fourth quarter worth about $39,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,690 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares of the company’s stock, valued at $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,297 shares of company stock worth $15,936,270 in the last ninety days. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GOOG shares. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Benchmark reissued a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush restated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Finally, Oppenheimer lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $208.65.

Alphabet Trading Down 0.0 %

GOOG stock opened at $158.86 on Thursday. The firm has a market cap of $1.94 trillion, a P/E ratio of 19.73, a P/E/G ratio of 1.34 and a beta of 1.04. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70. The business’s 50 day moving average is $179.06 and its 200-day moving average is $178.56.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet’s dividend payout ratio is 9.94%.

About Alphabet

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.