Alphabet Inc. (NASDAQ:GOOG) Stock Position Raised by Biltmore Wealth Management LLC

Biltmore Wealth Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,098 shares of the information services provider’s stock after acquiring an additional 68 shares during the quarter. Alphabet makes up about 0.3% of Biltmore Wealth Management LLC’s holdings, making the stock its 29th biggest holding. Biltmore Wealth Management LLC’s holdings in Alphabet were worth $780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Ignite Planners LLC grew its stake in Alphabet by 1.4% in the 4th quarter. Ignite Planners LLC now owns 13,109 shares of the information services provider’s stock valued at $2,532,000 after buying an additional 181 shares during the last quarter. Cardinal Point Capital Management ULC boosted its holdings in Alphabet by 52.1% in the 4th quarter. Cardinal Point Capital Management ULC now owns 14,762 shares of the information services provider’s stock valued at $2,811,000 after purchasing an additional 5,055 shares during the period. Myecfo LLC boosted its holdings in Alphabet by 9.7% in the 4th quarter. Myecfo LLC now owns 10,560 shares of the information services provider’s stock valued at $1,962,000 after purchasing an additional 932 shares during the period. Tuttle Capital Management LLC boosted its holdings in Alphabet by 34.6% in the 4th quarter. Tuttle Capital Management LLC now owns 2,456 shares of the information services provider’s stock valued at $468,000 after purchasing an additional 632 shares during the period. Finally, Signal Advisors Wealth LLC boosted its holdings in Alphabet by 27.8% in the 4th quarter. Signal Advisors Wealth LLC now owns 7,471 shares of the information services provider’s stock valued at $1,423,000 after purchasing an additional 1,624 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of research reports. UBS Group increased their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Barclays raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Trading Up 3.1 %

GOOG opened at $196.98 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.41 trillion, a PE ratio of 26.12, a PEG ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $202.88. The firm has a 50-day moving average price of $184.95 and a two-hundred day moving average price of $174.55.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.55 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 in the last quarter. 12.99% of the stock is owned by company insiders.

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.