Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,425 shares of the information services provider’s stock after selling 1,095 shares during the period. Alphabet makes up about 1.1% of Pinnacle Bancorp Inc.’s holdings, making the stock its 19th biggest position. Pinnacle Bancorp Inc.’s holdings in Alphabet were worth $3,318,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GOOG. Redhawk Wealth Advisors Inc. grew its holdings in Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after acquiring an additional 54 shares during the period. Sunburst Financial Group LLC grew its stake in shares of Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after purchasing an additional 60 shares during the period. Johnson Financial Group LLC increased its holdings in shares of Alphabet by 2.6% in the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after purchasing an additional 60 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of Alphabet by 0.7% in the 4th quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock valued at $1,585,000 after purchasing an additional 60 shares in the last quarter. Finally, Phillips Financial Management LLC lifted its stake in shares of Alphabet by 1.6% in the third quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock valued at $644,000 after purchasing an additional 61 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOG stock opened at $194.48 on Friday. The stock has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $202.88. The stock’s fifty day simple moving average is $185.32 and its 200-day simple moving average is $174.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period last year, the company earned $1.55 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analysts Set New Price Targets

A number of research analysts have issued reports on GOOG shares. Canaccord Genuity Group increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Barclays upped their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the sale, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. This represents a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 over the last quarter. Company insiders own 12.99% of the company’s stock.

About Alphabet

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.