Pinnacle Financial Partners Inc cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 298,920 shares of the information services provider's stock after selling 7,538 shares during the quarter. Alphabet comprises 1.1% of Pinnacle Financial Partners Inc's investment portfolio, making the stock its 18th largest holding. Pinnacle Financial Partners Inc's holdings in Alphabet were worth $55,590,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock worth $19,193,768,000 after buying an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider's stock valued at $17,247,208,000 after purchasing an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Alphabet by 9.1% in the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider's stock valued at $2,578,793,000 after purchasing an additional 1,291,274 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Alphabet by 2.5% in the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock valued at $1,843,149,000 after purchasing an additional 264,962 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Price Performance
Shares of NASDAQ:GOOG traded up $2.01 during midday trading on Friday, reaching $172.22. The company's stock had a trading volume of 30,019,942 shares, compared to its average volume of 18,461,348. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The company has a market capitalization of $2.10 trillion, a P/E ratio of 21.39, a P/E/G ratio of 1.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business's fifty day simple moving average is $192.17 and its 200-day simple moving average is $177.65.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet's payout ratio is 9.94%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on GOOG shares. Phillip Securities upgraded Alphabet to a "strong-buy" rating in a research note on Friday, November 1st. Scotiabank upped their target price on Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Friday, January 24th. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC restated a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $209.13.
Read Our Latest Research Report on GOOG
Insider Buying and Selling
In related news, CAO Amie Thuener O'toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares of the company's stock, valued at approximately $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,309 shares of company stock worth $25,057,490 over the last three months. 12.99% 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.
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