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

Pinnacle Wealth Management Advisory Group LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,848 shares of the information services provider’s stock after selling 627 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Alphabet were worth $3,220,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in GOOG. Cranbrook Wealth Management LLC increased its position in Alphabet by 14.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after buying an additional 70 shares during the last quarter. Manchester Financial Inc. raised its stake in Alphabet by 3.6% in the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after acquiring an additional 74 shares during the period. Atticus Wealth Management LLC boosted its position in Alphabet by 1.4% during the third quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after purchasing an additional 75 shares during the period. Congress Park Capital LLC increased its holdings in shares of Alphabet by 0.3% in the fourth quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after purchasing an additional 76 shares during the last quarter. Finally, Emerald Advisors LLC lifted its stake in shares of Alphabet by 0.6% during the 4th quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock worth $1,912,000 after buying an additional 76 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Alphabet stock traded down $1.82 during midday trading on Wednesday, reaching $171.16. The company’s stock had a trading volume of 13,649,296 shares, compared to its average volume of 22,634,053. The stock has a market cap of $2.12 trillion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $107.72 and a 52 week high of $176.42. The business has a 50-day moving average price of $152.74 and a 200-day moving average price of $144.21.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Wall Street Analyst Weigh In

GOOG has been the subject of several research reports. Susquehanna raised their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Raymond James increased their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Finally, Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $149.73, for a total value of $119,784.00. Following the transaction, the director now owns 7,164 shares in the company, valued at $1,072,665.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $149.73, for a total value of $119,784.00. Following the sale, the director now directly owns 7,164 shares in the company, valued at $1,072,665.72. The disclosure for this sale can be found here. Insiders have sold 252,629 shares of company stock worth $37,091,240 over the last ninety days. Insiders own 12.99% of the company’s stock.

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.