Alphabet Inc. (NASDAQ:GOOGL) CEO Sells $3,741,750.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Sundar Pichai also recently made the following trade(s):

• On Wednesday, October 2nd, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $167.07, for a total transaction of $3,759,075.00.
• On Wednesday, September 18th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00.
• On Wednesday, September 4th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00.
• On Wednesday, August 21st, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00.
• On Wednesday, August 7th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00.

Alphabet Stock Performance

Shares of GOOGL opened at $163.42 on Friday. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company has a 50-day moving average of $161.77 and a two-hundred day moving average of $168.06. 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 stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the firm earned $1.44 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Institutional Investors Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC increased its position in Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares during the period. Hengehold Capital Management LLC grew its stake in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc increased its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. First PREMIER Bank raised its position in Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares during the last quarter. Finally, MKT Advisors LLC lifted its holdings in Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GOOGL. UBS Group increased their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. JMP Securities reiterated a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, September 25th. Citigroup lifted their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Finally, Piper Sandler restated an “overweight” rating and set a $200.00 price objective on shares of Alphabet in a research report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.76.

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.