Pinnacle Wealth Planning Services Inc. Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Pinnacle Wealth Planning Services Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 23.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,939 shares of the information services provider’s stock after selling 8,486 shares during the quarter. Alphabet accounts for about 0.1% of Pinnacle Wealth Planning Services Inc.’s portfolio, making the stock its 20th largest holding. Pinnacle Wealth Planning Services Inc.’s holdings in Alphabet were worth $5,289,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Compass Planning Associates Inc purchased a new position in Alphabet during the 4th quarter worth approximately $30,000. LMR Partners LLP purchased a new position in Alphabet during the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $39,000. Finally, PayPay Securities Corp increased its holdings in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GOOGL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 target price on shares of Alphabet in a report on Wednesday, February 5th. Stifel Nicolaus lifted their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Piper Sandler cut their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Citigroup cut their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock valued at $17,374,274 over the last 90 days. 11.55% of the stock is owned by insiders.

Alphabet Trading Up 2.0 %

NASDAQ GOOGL opened at $163.89 on Thursday. The firm’s 50-day moving average is $183.75 and its two-hundred day moving average is $176.47. Alphabet Inc. has a 12 month low of $146.74 and a 12 month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 20.36, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS 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%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is currently 9.94%.

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.