Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Decreased by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 21,174 shares of the information services provider’s stock after selling 246 shares during the period. Alphabet accounts for approximately 1.0% of Pinnacle Bancorp Inc.’s holdings, making the stock its 15th biggest holding. Pinnacle Bancorp Inc.’s holdings in Alphabet were worth $2,958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. RWQ Financial Management Services Inc. boosted its holdings in shares of Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after buying an additional 4,664 shares during the period. Ballast Advisors LLC boosted its holdings in shares of Alphabet by 9.6% in the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after buying an additional 1,385 shares during the period. Quantum Financial Advisors LLC boosted its holdings in shares of Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Alphabet by 2.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after buying an additional 104,366 shares during the period. Finally, NatWest Group plc boosted its holdings in shares of Alphabet by 239.0% in the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after buying an additional 71,057 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $155.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. BMO Capital Markets reissued an “outperform” rating and set a $185.00 target price (up from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Wells Fargo & Company reduced their target price on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. Wolfe Research boosted their target price on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Susquehanna boosted their target price on shares of 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 hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.61.

Alphabet Stock Down 1.8 %

GOOGL stock opened at $154.86 on Tuesday. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22. The company’s 50 day simple moving average is $145.55 and its 200-day simple moving average is $140.02. 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 firm has a market capitalization of $1.93 trillion, a P/E ratio of 26.70, a P/E/G ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the sale, the chief executive officer now owns 2,400,191 shares in the company, valued at $341,163,148.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’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 transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the completion of the transaction, the chief executive officer now owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,033,907 over the last 90 days. 0.88% of the stock is owned by company insiders.

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.