Pinnacle Wealth Management LLC Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Pinnacle Wealth Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,104 shares of the information services provider’s stock, valued at approximately $1,827,000. Alphabet accounts for 1.8% of Pinnacle Wealth Management LLC’s investment portfolio, making the stock its 21st largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Alphabet by 142.9% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Milestone Wealth LLC boosted its position in Alphabet by 1,900.0% during the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 361 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new stake in Alphabet during the 2nd quarter worth about $46,000. GW&K Investment Management LLC bought a new position in shares of Alphabet in the 1st quarter worth about $50,000. Finally, Impact Partnership Wealth LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at about $50,000. 27.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the transaction, the senior vice president now directly owns 75,621 shares of the company’s stock, valued at $10,119,602.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the completion of the sale, the senior vice president now directly owns 75,621 shares of the company’s stock, valued at $10,119,602.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the sale, the director now owns 7,184 shares in the company, valued at $954,897.28. The disclosure for this sale can be found here. Insiders have sold 176,576 shares of company stock valued at $23,425,367 in the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Down 1.3 %

GOOG stock traded down $1.76 during mid-day trading on Friday, reaching $136.94. 25,590,191 shares of the company traded hands, compared to its average volume of 25,945,371. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average price is $134.60 and its 200 day moving average price is $128.32. The stock has a market cap of $1.71 trillion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 1.53 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $85.57 and a fifty-two week high of $142.38.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. The company had revenue of $64.05 billion for the quarter, compared to analysts’ expectations of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. As a group, equities research analysts predict that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on GOOG shares. Wedbush began coverage on Alphabet in a research note on Monday, August 21st. They set an “outperform” rating for the company. Oppenheimer reiterated an “outperform” rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, October 25th. Robert W. Baird increased their target price on shares of Alphabet from $123.00 to $140.00 in a research note on Wednesday, July 26th. Finally, Susquehanna raised their price target on shares of Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus target price of $130.69.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.