Pinnacle Wealth Planning Services Inc. Purchases 1,435 Shares of Alphabet Inc. $GOOG

Pinnacle Wealth Planning Services Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,863 shares of the information services provider’s stock after purchasing an additional 1,435 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Alphabet were worth $3,346,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. IFS Advisors LLC lifted its position in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley raised its holdings in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its position in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the period. Fairman Group LLC boosted its position in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. bought a new stake in Alphabet in the 1st quarter worth $32,000. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the transaction, the chief executive officer directly owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,396 shares of company stock worth $54,151,037 in the last ninety days. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Jefferies Financial Group raised their target price on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Raymond James Financial set a $275.00 target price on Alphabet and gave the company an “outperform” rating in a research note on Friday, October 24th. Scotiabank set a $336.00 price target on Alphabet and gave the stock a “sector outperform” rating in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Trading Up 3.1%

GOOG opened at $285.60 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $294.52. The stock has a market cap of $3.45 trillion, a PE ratio of 28.17, a PEG ratio of 1.86 and a beta of 1.05. The business has a 50 day moving average of $258.86 and a 200-day moving average of $211.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.12 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

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.