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

Pinnacle Bancorp Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,892 shares of the information services provider’s stock after selling 282 shares during the period. Alphabet comprises approximately 0.9% of Pinnacle Bancorp Inc.’s holdings, making the stock its 16th biggest holding. Pinnacle Bancorp Inc.’s holdings in Alphabet were worth $3,153,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at $38,000. Armor Investment Advisors LLC grew its holdings in Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares in the last quarter. IAG Wealth Partners LLC increased its stake in Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after buying an additional 123 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new position in Alphabet in the 4th quarter worth $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOGL. Jefferies Financial Group lifted their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Raymond James lifted their price objective on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Roth Mkm increased their target price on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Wolfe Research lifted their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Loop Capital upped their price target on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Six research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $193.66.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $182.15 on Monday. The firm’s 50-day simple moving average is $172.85 and its 200 day simple moving average is $154.44. The stock has a market cap of $2.25 trillion, a P/E ratio of 27.94, a P/E/G ratio of 1.37 and a beta of 1.01. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $186.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the previous year, the firm earned $1.17 EPS. Equities analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders have sold 143,026 shares of company stock valued at $24,026,243 in the last quarter. Insiders own 11.55% of the company’s stock.

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.