Pinnacle Financial Partners Inc Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Pinnacle Financial Partners Inc trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 322,124 shares of the information services provider’s stock after selling 8,552 shares during the period. Alphabet accounts for 1.1% of Pinnacle Financial Partners Inc’s portfolio, making the stock its 18th largest holding. Pinnacle Financial Partners Inc’s holdings in Alphabet were worth $45,397,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of GOOG. Totem Point Management LLC grew its stake in shares of Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F grew its stake in shares of Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares in the last quarter. BCK Partners Inc. purchased a new position in shares of Alphabet in the 1st quarter worth $2,564,000. Hall Capital Management Co. Inc. grew its stake in shares of Alphabet by 53.2% in the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after buying an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. grew its stake in shares of Alphabet by 6.8% in the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after buying an additional 214 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on GOOG shares. Raymond James lifted their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus price target of $146.33.

Read Our Latest Stock Analysis on Alphabet

Insider Activity

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’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 transaction, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 228,239 shares of company stock valued at $32,432,382 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Up 0.3 %

Shares of NASDAQ:GOOG opened at $156.37 on Thursday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a fifty-two week low of $103.27 and a fifty-two week high of $157.00. The firm’s 50 day moving average price is $145.42 and its 200 day moving average price is $139.98. The stock has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. Alphabet’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the firm posted $1.05 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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