Pinnacle Wealth Management Advisory Group LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOG)

Pinnacle Wealth Management Advisory Group LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,956 shares of the information services provider’s stock after selling 638 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Alphabet were worth $4,181,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOG. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the fourth quarter valued at approximately $27,000. Weiss Asset Management LP acquired a new stake in Alphabet in the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet in the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in 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 valued at $42,000 after purchasing an additional 117 shares during the period. Finally, Maryland Capital Advisors Inc. boosted its stake in shares of Alphabet by 33.0% in the fourth quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock worth $51,000 after acquiring an additional 66 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,919 shares of company stock worth $18,528,318. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Oppenheimer lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company lifted their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Price Performance

GOOG stock opened at $187.13 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.28 trillion, a PE ratio of 23.25, a P/E/G ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The business’s fifty day moving average price is $194.35 and its 200 day moving average price is $177.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is presently 9.94%.

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.