Alphabet (NASDAQ:GOOG) CEO Sundar Pichai Sells 32,500 Shares

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the transaction, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, October 15th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00.
• On Wednesday, October 1st, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00.
• On Wednesday, September 17th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00.
• On Wednesday, September 3rd, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00.
• On Wednesday, August 20th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $199.92, for a total transaction of $6,497,400.00.

Alphabet Stock Performance

Shares of GOOG traded down $5.64 during trading hours on Friday, reaching $279.70. 21,930,713 shares of the company traded hands, compared to its average volume of 23,443,854. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock’s fifty day moving average is $250.48 and its 200 day moving average is $204.23. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93. The stock has a market cap of $3.38 trillion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.12 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Analysts Set New Price Targets

Several brokerages have issued reports on GOOG. Robert W. Baird boosted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. KeyCorp reissued an “overweight” rating and issued a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. HSBC restated a “buy” rating and set a $335.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Jefferies Financial Group upped their price objective on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Raymond James Financial set a $275.00 target price on Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC lifted its position in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Smart Money Group LLC increased its holdings in shares of Alphabet by 24.6% in the first quarter. Smart Money Group LLC now owns 2,186 shares of the information services provider’s stock valued at $342,000 after purchasing an additional 432 shares in the last quarter. Leavell Investment Management Inc. raised its position in Alphabet by 4.0% in the 1st quarter. Leavell Investment Management Inc. now owns 98,777 shares of the information services provider’s stock worth $15,432,000 after purchasing an additional 3,757 shares during the last quarter. Forza Wealth Management LLC lifted its holdings in Alphabet by 2.0% during the 1st quarter. Forza Wealth Management LLC now owns 3,519 shares of the information services provider’s stock worth $550,000 after buying an additional 70 shares in the last quarter. Finally, Peddock Capital Advisors LLC lifted its holdings in Alphabet by 1.1% during the 1st quarter. Peddock Capital Advisors LLC now owns 6,133 shares of the information services provider’s stock worth $958,000 after buying an additional 66 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

About Alphabet

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.