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

Pinnacle Wealth Management Advisory Group LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,366 shares of the information services provider’s stock after selling 405 shares during the quarter. Alphabet comprises about 1.3% of Pinnacle Wealth Management Advisory Group LLC’s portfolio, making the stock its 20th biggest holding. Pinnacle Wealth Management Advisory Group LLC’s holdings in Alphabet were worth $14,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. LMR Partners LLP purchased a new stake in shares of Alphabet in the 3rd quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in 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 acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new position in Alphabet in the 4th quarter valued at about $39,000. PayPay Securities Corp increased its stake 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 purchasing an additional 65 shares during the period. Finally, Denver PWM LLC lifted its position 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 worth $47,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $170.33 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. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The firm has a 50-day simple moving average of $190.58 and a 200-day simple moving average of $176.11. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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 research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,309 shares of company stock worth $25,057,490 in the last three months. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GOOGL shares. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

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.