Biltmore Family Office LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Biltmore Family Office LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,787 shares of the information services provider’s stock after selling 153 shares during the quarter. Alphabet comprises about 0.7% of Biltmore Family Office LLC’s investment portfolio, making the stock its 25th biggest position. Biltmore Family Office LLC’s holdings in Alphabet were worth $4,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Compass Planning Associates Inc acquired a new stake in shares of Alphabet during the fourth quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter valued at about $39,000. PayPay Securities Corp grew its stake in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares in the last quarter. Finally, Denver PWM LLC grew its stake in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GOOGL. Morgan Stanley lowered their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Jefferies Financial Group decreased their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 31st. UBS Group set a $190.00 price target on Alphabet in a research note on Thursday, March 27th. Finally, DA Davidson lifted their price target on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $206.51.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the sale, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,797 shares of company stock worth $21,089,470. 11.55% of the stock is owned by insiders.

Alphabet Trading Down 3.7 %

Alphabet stock opened at $152.82 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $1.86 trillion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm’s 50 day moving average price is $169.50 and its two-hundred day moving average price is $176.25.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.52%. Alphabet’s dividend payout ratio (DPR) 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.