Insider Selling: Alphabet Inc. (NASDAQ:GOOG) CEO Sells 22,500 Shares of Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, August 21st, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $167.66, for a total transaction 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 transaction of $3,652,875.00.
• On Wednesday, July 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00.
• On Wednesday, July 3rd, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00.
• On Thursday, June 20th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00.

Alphabet Stock Down 4.1 %

GOOG opened at $152.13 on Friday. The company has a market capitalization of $1.88 trillion, a P/E ratio of 23.33, a P/E/G ratio of 1.22 and a beta of 1.05. 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 firm’s fifty day moving average price is $172.50 and its two-hundred day moving average price is $165.62. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Oppenheimer raised their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday. TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Institutional Trading of Alphabet

Several institutional investors have recently bought and sold shares of GOOG. Capital International Investors boosted its position in Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after acquiring an additional 13,876,534 shares in the last quarter. Capital World Investors increased its holdings in Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after purchasing an additional 979,083 shares in the last quarter. Capital Research Global Investors raised its position in Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after purchasing an additional 684,968 shares during the last quarter. Finally, Norges Bank acquired a new position in Alphabet in the fourth quarter worth $4,101,040,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

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.