Pinnacle Financial Partners Inc trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 811,354 shares of the information services provider's stock after selling 8,338 shares during the period. Alphabet makes up 2.7% of Pinnacle Financial Partners Inc's portfolio, making the stock its 7th biggest position. Pinnacle Financial Partners Inc's holdings in Alphabet were worth $134,563,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in GOOGL. International Assets Investment Management LLC grew its holdings in Alphabet by 43,005.6% during the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider's stock worth $31,086,250,000 after acquiring an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider's stock valued at $1,772,991,000 after buying an additional 9,135,056 shares during the period. Capital Research Global Investors boosted its holdings in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider's stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider's stock valued at $1,437,957,000 after buying an additional 4,662,809 shares during the period. Finally, Wulff Hansen & CO. boosted its holdings in shares of Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider's stock valued at $807,700,000 after buying an additional 4,410,811 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently commented on GOOGL. Royal Bank of Canada lifted their price target on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Evercore ISI lifted their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $205.90.
Check Out Our Latest Report on Alphabet
Alphabet Trading Up 0.1 %
NASDAQ GOOGL opened at $169.23 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The firm's 50 day moving average price is $168.22 and its two-hundred day moving average price is $170.34. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.19 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet's payout ratio is 10.61%.
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O'toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares of the company's stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company's stock, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is currently owned by company insiders.
About Alphabet
(
Free Report)
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.
Featured Stories
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
