Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Pinnacle Wealth Management Group Inc.

Pinnacle Wealth Management Group Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,530 shares of the information services provider’s stock after selling 100 shares during the quarter. Pinnacle Wealth Management Group Inc.’s holdings in Alphabet were worth $633,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. New Millennium Group LLC grew its position in shares of Alphabet by 3,012.2% in the fourth quarter. New Millennium Group LLC now owns 16,806 shares of the information services provider’s stock valued at $2,348,000 after purchasing an additional 16,266 shares during the period. Abundance Wealth Counselors boosted its position in Alphabet by 1.4% during the fourth quarter. Abundance Wealth Counselors now owns 33,217 shares of the information services provider’s stock worth $4,640,000 after acquiring an additional 448 shares during the last quarter. Keystone Wealth Services LLC boosted its position in Alphabet by 8.2% during the fourth quarter. Keystone Wealth Services LLC now owns 9,147 shares of the information services provider’s stock worth $1,278,000 after acquiring an additional 694 shares during the last quarter. Johnson & White Wealth Management LLC boosted its position in Alphabet by 20.5% during the fourth quarter. Johnson & White Wealth Management LLC now owns 2,942 shares of the information services provider’s stock worth $411,000 after acquiring an additional 500 shares during the last quarter. Finally, Fiduciary Alliance LLC boosted its position in Alphabet by 8.6% during the fourth quarter. Fiduciary Alliance LLC now owns 37,782 shares of the information services provider’s stock worth $5,278,000 after acquiring an additional 2,988 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the transaction, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. Insiders sold 251,138 shares of company stock worth $35,427,655 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their price target on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Wolfe Research lifted their target price on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Mizuho lifted their target price on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Wedbush lifted their target price on shares of Alphabet from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, StockNews.com raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.48.

Alphabet Trading Up 0.0 %

Shares of GOOGL stock opened at $150.93 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a fifty-two week low of $99.78 and a fifty-two week high of $153.78. The stock has a market capitalization of $1.88 trillion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The company has a 50 day moving average price of $143.52 and a 200 day moving average price of $138.12.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the previous year, the business posted $1.05 EPS. Equities research analysts predict that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

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.