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

Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 74,699 shares of the information services provider’s stock after purchasing an additional 219 shares during the period. Alphabet comprises approximately 1.2% of Pinnacle Wealth Management Advisory Group LLC’s portfolio, making the stock its 21st largest holding. Pinnacle Wealth Management Advisory Group LLC’s holdings in Alphabet were worth $10,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its stake in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after acquiring an additional 5,336,359 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Alphabet during the third quarter valued at approximately $634,465,000. Ontario Teachers Pension Plan Board bought a new stake in Alphabet during the third quarter worth approximately $601,545,000. Finally, Lone Pine Capital LLC acquired a new stake in Alphabet in the third quarter worth approximately $407,367,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Roth Mkm lifted their price target on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Raymond James boosted their price target on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Barclays raised their price objective on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Sanford C. Bernstein boosted their target price on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Finally, Morgan Stanley raised their target price on shares of Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.60.

View Our Latest Research Report on GOOGL

Alphabet Stock Up 0.7 %

NASDAQ GOOGL opened at $170.34 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $174.71. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02. The stock has a fifty day moving average of $154.03 and a 200-day moving average of $143.91.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the business posted $1.17 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 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, June 10th.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider John Kent Walker sold 48,076 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $142.20, for a total value of $6,836,407.20. Following the sale, the insider now directly owns 12,725 shares in the company, valued at $1,809,495. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. In the last three months, insiders sold 254,011 shares of company stock worth $37,337,245. 0.88% of the stock is owned by company insiders.

About Alphabet

(Free Report)

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.

See Also

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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