Pinnacle Bancorp Inc. Sells 77 Shares of Alphabet Inc. (NASDAQ:GOOG)

Pinnacle Bancorp Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 14,925 shares of the information services provider’s stock after selling 77 shares during the period. Alphabet comprises 0.7% of Pinnacle Bancorp Inc.’s portfolio, making the stock its 25th biggest position. Pinnacle Bancorp Inc.’s holdings in Alphabet were worth $2,103,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Trifecta Capital Advisors LLC raised its stake in shares of Alphabet by 0.5% during the 4th quarter. Trifecta Capital Advisors LLC now owns 120,120 shares of the information services provider’s stock worth $16,929,000 after purchasing an additional 620 shares in the last quarter. E&G Advisors LP raised its stake in shares of Alphabet by 1.6% during the 4th quarter. E&G Advisors LP now owns 7,869 shares of the information services provider’s stock worth $1,109,000 after purchasing an additional 127 shares in the last quarter. Hanson & Doremus Investment Management raised its stake in shares of Alphabet by 0.7% during the 4th quarter. Hanson & Doremus Investment Management now owns 28,476 shares of the information services provider’s stock worth $4,013,000 after purchasing an additional 206 shares in the last quarter. Confluence Wealth Services Inc. raised its stake in shares of Alphabet by 23.6% during the 4th quarter. Confluence Wealth Services Inc. now owns 17,636 shares of the information services provider’s stock worth $2,485,000 after purchasing an additional 3,362 shares in the last quarter. Finally, Altus Wealth Management LLC raised its stake in shares of Alphabet by 23.2% during the 4th quarter. Altus Wealth Management LLC now owns 3,055 shares of the information services provider’s stock worth $431,000 after purchasing an additional 575 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $160.79 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock’s fifty day moving average price is $146.19 and its two-hundred day moving average price is $140.84. Alphabet Inc. has a one year low of $103.27 and a one year high of $161.12. The firm has a market cap of $2.00 trillion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS 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 return on equity of 27.22% and a net margin of 24.01%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 EPS. On average, equities analysts forecast that Alphabet Inc. will post 6.77 EPS for the current year.

Insider Activity at Alphabet

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 250,539 shares of company stock valued at $35,906,259 over the last ninety days. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on GOOG. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $157.50.

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.