Pinnacle Wealth Management Advisory Group LLC Has $12.13 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Pinnacle Wealth Management Advisory Group LLC increased its stake in Alphabet Inc. by 4.1%, purchasing an additional 3,101 shares, bringing their total holdings to 78,467 shares valued at approximately $12.13 million.
• Alphabet's recent quarterly earnings showed an EPS of $2.31, surpassing the consensus estimate by $0.16, with total revenue reaching $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, reflecting an annualized dividend yield of 0.4% and a payout ratio of 8.95%.

Pinnacle Wealth Management Advisory Group LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,467 shares of the information services provider's stock after purchasing an additional 3,101 shares during the period. Alphabet makes up approximately 1.1% of Pinnacle Wealth Management Advisory Group LLC's holdings, making the stock its 22nd largest position. Pinnacle Wealth Management Advisory Group LLC's holdings in Alphabet were worth $12,134,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Perritt Capital Management Inc lifted its stake in Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after buying an additional 58 shares in the last quarter. Nia Impact Advisors LLC lifted its position in shares of Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after acquiring an additional 59 shares in the last quarter. Hanlon Investment Management Inc. boosted its stake in shares of Alphabet by 1.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after acquiring an additional 60 shares during the last quarter. Enzi Wealth raised its stake in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares during the last quarter. Finally, Whipplewood Advisors LLC lifted its holdings in Alphabet by 1.2% in the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after purchasing an additional 67 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,219 shares of company stock worth $49,474,273. Corporate insiders own 11.64% of the company's stock.

Alphabet Price Performance

Shares of GOOGL traded up $0.43 during trading hours on Thursday, hitting $196.52. 26,014,319 shares of the company were exchanged, compared to its average volume of 36,916,484. The firm has a fifty day simple moving average of $179.76 and a 200-day simple moving average of $173.12. The company has a market capitalization of $2.38 trillion, a PE ratio of 20.93, a PEG ratio of 1.32 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GOOGL shares. Rosenblatt Securities boosted their price objective on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. BMO Capital Markets boosted their price target on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. JMP Securities raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Sanford C. Bernstein lifted their price target on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $211.53.

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.