Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,956 shares of the information services provider’s stock after selling 638 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Alphabet were worth $4,181,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Swedbank AB boosted its position in shares of Alphabet by 0.6% in the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after purchasing an additional 51,226 shares during the period. Community Financial Services Group LLC boosted its position in shares of Alphabet by 1.4% in the 3rd quarter. Community Financial Services Group LLC now owns 78,118 shares of the information services provider’s stock valued at $13,061,000 after purchasing an additional 1,089 shares during the period. Integrity Wealth Solutions LLC boosted its position in shares of Alphabet by 15.4% in the 3rd quarter. Integrity Wealth Solutions LLC now owns 4,591 shares of the information services provider’s stock valued at $768,000 after purchasing an additional 612 shares during the period. Horst & Graben Wealth Management LLC boosted its position in shares of Alphabet by 16.0% in the 3rd quarter. Horst & Graben Wealth Management LLC now owns 2,182 shares of the information services provider’s stock valued at $365,000 after purchasing an additional 301 shares during the period. Finally, MPS Loria Financial Planners LLC boosted its position in shares of Alphabet by 6.3% in the 3rd quarter. MPS Loria Financial Planners LLC now owns 5,266 shares of the information services provider’s stock valued at $880,000 after purchasing an additional 313 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on GOOG shares. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Oppenheimer upped their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. UBS Group upped their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Performance

Shares of GOOG stock opened at $187.13 on Thursday. The company has a market cap of $2.28 trillion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The stock has a 50 day simple moving average of $194.35 and a 200-day simple moving average of $177.01. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. 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 (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,919 shares of company stock worth $18,528,318 in the last quarter. Company insiders own 12.99% of the company’s stock.

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.