Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai Sells 22,500 Shares

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the transaction, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 value 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 shares were 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.
• 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 value of $4,113,900.00.

Alphabet Stock Performance

Shares of GOOG stock traded down $1.11 during trading hours on Wednesday, reaching $167.31. 12,253,873 shares of the company traded hands, compared to its average volume of 20,039,184. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. 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 company has a market cap of $2.07 trillion, a P/E ratio of 25.59, a P/E/G ratio of 1.21 and a beta of 1.04. The firm has a 50-day moving average price of $163.71 and a 200 day moving average price of $168.51.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the previous year, the firm earned $1.44 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Institutional Trading of Alphabet

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOOG. Jones Financial Companies Lllp raised its stake in Alphabet by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 8,370 shares of the information services provider’s stock valued at $1,180,000 after purchasing an additional 1,113 shares during the period. Capital International Sarl increased its stake in Alphabet by 9.9% in the 4th quarter. Capital International Sarl now owns 273,256 shares of the information services provider’s stock worth $38,510,000 after acquiring an additional 24,610 shares during the last quarter. 360 Financial Inc. bought a new stake in Alphabet in the 4th quarter worth approximately $289,000. Tower Research Capital LLC TRC increased its stake in Alphabet by 134.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 751,090 shares of the information services provider’s stock worth $105,851,000 after acquiring an additional 430,174 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Alphabet by 28.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 404,285 shares of the information services provider’s stock worth $56,976,000 after acquiring an additional 89,284 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of several recent analyst reports. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer dropped their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Finally, TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $183.75.

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.