Pinnacle Wealth Planning Services Inc. Has $3.16 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Pinnacle Wealth Planning Services Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 27.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,594 shares of the information services provider's stock after selling 6,376 shares during the quarter. Pinnacle Wealth Planning Services Inc.'s holdings in Alphabet were worth $3,160,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Cassaday & Co Wealth Management LLC lifted its holdings in shares of Alphabet by 9.3% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock worth $5,341,000 after buying an additional 2,390 shares in the last quarter. LaFleur & Godfrey LLC increased its position in shares of Alphabet by 1.2% during the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock valued at $6,088,000 after purchasing an additional 380 shares during the last quarter. Wesbanco Bank Inc. grew its position in Alphabet by 1.3% in the 4th quarter. Wesbanco Bank Inc. now owns 80,652 shares of the information services provider's stock valued at $15,359,000 after acquiring an additional 1,014 shares during the last quarter. Independent Wealth Network Inc. lifted its holdings in shares of Alphabet by 10.3% in the 4th quarter. Independent Wealth Network Inc. now owns 4,544 shares of the information services provider's stock worth $865,000 after buying an additional 426 shares during the period. Finally, Wendell David Associates Inc. lifted its holdings in shares of Alphabet by 14.4% in the 4th quarter. Wendell David Associates Inc. now owns 3,124 shares of the information services provider's stock worth $595,000 after buying an additional 393 shares during the period. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Up 2.6%

NASDAQ:GOOG traded up $4.39 during mid-day trading on Tuesday, hitting $173.98. The company had a trading volume of 24,291,303 shares, compared to its average volume of 20,134,876. The business has a fifty day simple moving average of $160.54 and a 200-day simple moving average of $176.49. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm 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%. Alphabet's revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $1.89 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now owns 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. This trade represents a 19.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,654 shares of company stock valued at $26,793,380. Company insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of research analyst reports. Oppenheimer increased their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. UBS Group cut their price objective on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Morgan Stanley reaffirmed an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reissued an "outperform" rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Finally, KeyCorp dropped their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $203.94.

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.