Pinnacle Wealth Planning Services Inc. Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

Pinnacle Wealth Planning Services Inc. cut its position in Alphabet Inc. (NASDAQ:GOOG) by 27.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,594 shares of the information services provider’s stock after selling 6,376 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Alphabet were worth $3,160,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GOOG. Weiss Asset Management LP purchased a new position in Alphabet in the third quarter worth about $25,000. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter worth approximately $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet in the third quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. grew its stake in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the period. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet in the fourth quarter worth approximately $43,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GOOG shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Benchmark restated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank boosted their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Finally, Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Stock Performance

GOOG opened at $175.75 on Friday. The firm has a market cap of $2.14 trillion, a P/E ratio of 21.83, a PEG ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 1-year low of $134.80 and a 1-year high of $208.70. The company has a 50 day simple moving average of $189.85 and a two-hundred day simple moving average of $177.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on 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 directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,316 shares of company stock valued at $25,062,887. 12.99% of the stock is currently owned by corporate insiders.

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.