Pinnacle Financial Partners Inc Acquires 215 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pinnacle Financial Partners Inc lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 811,569 shares of the information services provider’s stock after acquiring an additional 215 shares during the quarter. Alphabet accounts for 2.9% of Pinnacle Financial Partners Inc’s holdings, making the stock its 7th biggest position. Pinnacle Financial Partners Inc’s holdings in Alphabet were worth $140,618,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the fourth quarter worth $30,000. LMR Partners LLP purchased a new stake in Alphabet during the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in 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 worth $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter worth $39,000. Finally, PayPay Securities Corp boosted its holdings in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $173.86 on Friday. Alphabet Inc. has a 12-month low of $134.00 and a 12-month high of $207.05. The stock has a market cap of $2.12 trillion, a P/E ratio of 21.60, a PEG ratio of 1.34 and a beta of 0.99. The company has a 50-day moving average price of $188.21 and a 200 day moving average price of $176.40. 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:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,316 shares of company stock worth $25,062,887 over the last three months. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOGL shares. JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Bank of America reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Wells Fargo & Company increased their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Morgan Stanley lowered their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

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.