Pinnacle Family Advisors LLC Buys 75 Shares of Alphabet Inc. (NASDAQ:GOOG)

Pinnacle Family Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,940 shares of the information services provider’s stock after buying an additional 75 shares during the period. Pinnacle Family Advisors LLC’s holdings in Alphabet were worth $324,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Walden Wealth Partners LLC grew its stake in shares of Alphabet by 5.3% in the second quarter. Walden Wealth Partners LLC now owns 18,647 shares of the information services provider’s stock valued at $3,420,000 after acquiring an additional 931 shares in the last quarter. Norman Fields Gottscho Capital Management LLC boosted its holdings in Alphabet by 2.8% in the 2nd quarter. Norman Fields Gottscho Capital Management LLC now owns 35,879 shares of the information services provider’s stock valued at $6,912,000 after purchasing an additional 962 shares during the period. Franchise Capital Ltd acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $15,476,000. Warther Private Wealth LLC increased its holdings in shares of Alphabet by 36.6% during the second quarter. Warther Private Wealth LLC now owns 6,950 shares of the information services provider’s stock worth $1,275,000 after purchasing an additional 1,863 shares during the period. Finally, CX Institutional raised its position in shares of Alphabet by 9.2% in the second quarter. CX Institutional now owns 31,944 shares of the information services provider’s stock valued at $5,859,000 after buying an additional 2,700 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,624 shares of company stock worth $27,803,730 over the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Stock Up 0.0 %

Shares of NASDAQ GOOG opened at $173.02 on Wednesday. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $2.12 trillion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 1.21 and a beta of 1.02. The company has a 50 day simple moving average of $170.37 and a 200 day simple moving average of $171.78.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Canaccord Genuity Group boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

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.