Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 27.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,594 shares of the information services provider's stock after selling 6,376 shares during the period. Pinnacle Wealth Planning Services Inc.'s holdings in Alphabet were worth $3,160,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fiduciary Advisors Inc. bought a new stake in Alphabet in the 4th quarter valued at about $27,000. LSV Asset Management purchased a new position in shares of Alphabet during the 4th quarter valued at $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet in the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC purchased a new stake in Alphabet in the fourth quarter valued at approximately $43,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded down $0.82 during trading on Thursday, reaching $172.56. The company had a trading volume of 12,347,197 shares, compared to its average volume of 20,146,811. The stock's fifty day moving average price is $160.86 and its 200 day moving average price is $176.45. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.49%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOG. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Westpark Capital reissued a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Benchmark restated a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, KeyCorp cut their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $203.94.

Insiders Place Their Bets

In other news, CAO Amie Thuener O'toole sold 1,374 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,654 shares of company stock valued at $26,793,380 in the last ninety days. Insiders own 12.99% of the company's stock.

About Alphabet

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.