Pinnacle Financial Partners Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,715 shares of the information services provider’s stock after selling 200 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Alphabet were worth $2,467,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Riggs Asset Managment Co. Inc. increased its stake in Alphabet by 39.6% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after buying an additional 40 shares during the period. Farmers National Bank increased its stake in Alphabet by 15.0% during the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares during the period. St. Johns Investment Management Company LLC grew its stake in shares of Alphabet by 1,046.7% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after purchasing an additional 157 shares during the last quarter. Cribstone Capital Management LLC grew its stake in shares of Alphabet by 5.7% in the 2nd quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock worth $167,000 after purchasing an additional 10 shares during the last quarter. Finally, Baker Boyer National Bank acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $200,000. Institutional investors own 34.28% of the company’s stock.
Several research analysts have recently weighed in on GOOG shares. Cowen and Company reissued an “outperform” rating and issued a $1,075.00 target price on shares of Alphabet in a research report on Thursday, August 10th. Wells Fargo & Company reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. UBS AG reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Needham & Company LLC restated a “buy” rating and issued a $1,050.00 target price on shares of Alphabet in a research note on Monday, July 17th. Finally, J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-nine have issued a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average price target of $1,047.52.
In related news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $1,018.97, for a total value of $4,075,880.00. Following the transaction, the chief executive officer now directly owns 1,699 shares of the company’s stock, valued at approximately $1,731,230.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 37 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $940.67, for a total transaction of $34,804.79. Following the completion of the transaction, the director now directly owns 1,789 shares in the company, valued at $1,682,858.63. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,158 shares of company stock worth $25,062,399. 13.92% of the stock is owned by insiders.
Shares of Alphabet Inc. (NASDAQ:GOOG) opened at $1,025.75 on Tuesday. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $727.54 and a twelve month high of $1,048.39. The company has a market capitalization of $714,304.06, a price-to-earnings ratio of 34.42 and a beta of 0.95.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $27.17 billion. During the same period in the prior year, the firm earned $9.06 EPS. The firm’s revenue was up 23.7% on a year-over-year basis.
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Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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