Pinnacle Bancorp Inc. Grows Stake in Alphabet Inc. (NASDAQ:GOOG)

Pinnacle Bancorp Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 24.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,520 shares of the information services provider’s stock after purchasing an additional 3,582 shares during the quarter. Alphabet accounts for approximately 0.8% of Pinnacle Bancorp Inc.’s holdings, making the stock its 21st biggest position. Pinnacle Bancorp Inc.’s holdings in Alphabet were worth $3,096,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Richardson Financial Services Inc. bought a new position in shares of Alphabet in the fourth quarter worth approximately $34,000. Abich Financial Wealth Management LLC increased its stake in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet during the second quarter valued at about $37,000. HWG Holdings LP bought a new position in shares of Alphabet in the second quarter worth about $40,000. Finally, Slocum Gordon & Co LLP bought a new position in shares of Alphabet in the second quarter worth about $44,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,092 shares of company stock valued at $35,644,136 in the last ninety days. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. UBS Group dropped their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.11.

Alphabet Price Performance

NASDAQ:GOOG opened at $163.18 on Friday. The firm has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a 50 day simple moving average of $163.07 and a 200-day simple moving average of $169.07. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is 11.48%.

Alphabet 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.