Biltmore Wealth Management LLC Acquires 85 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Biltmore Wealth Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,149 shares of the information services provider’s stock after purchasing an additional 85 shares during the quarter. Biltmore Wealth Management LLC’s holdings in Alphabet were worth $356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Syon Capital LLC lifted its holdings in Alphabet by 12.0% during the 4th quarter. Syon Capital LLC now owns 41,695 shares of the information services provider’s stock worth $5,824,000 after buying an additional 4,472 shares in the last quarter. Beaird Harris Wealth Management LLC increased its stake in shares of Alphabet by 48.7% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 2,115 shares of the information services provider’s stock valued at $295,000 after buying an additional 693 shares during the period. Abel Hall LLC bought a new stake in shares of Alphabet during the fourth quarter worth $768,000. American International Group Inc. lifted its stake in shares of Alphabet by 11.5% during the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock valued at $272,655,000 after acquiring an additional 200,891 shares during the period. Finally, Forthright Family Wealth Advisory LLC bought a new position in Alphabet in the fourth quarter valued at about $393,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,092 shares of company stock worth $35,644,136 in the last ninety days. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GOOGL shares. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a report on Monday, October 7th. Citigroup lifted their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Argus increased their price target on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, September 25th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.95.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $163.24 on Monday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a 50-day moving average of $161.37 and a 200-day moving average of $167.86.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the firm earned $1.44 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Alphabet 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.