Alphabet (NASDAQ:GOOGL) CEO Sells $7,910,825.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value of $8,108,750.00.
• On Wednesday, September 3rd, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00.
• On Wednesday, August 20th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00.
• On Wednesday, August 6th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00.
• On Wednesday, July 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $245.35 on Friday. The stock has a fifty day moving average price of $221.25 and a 200-day moving average price of $185.96. The company has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is 8.95%.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently made changes to their positions in the stock. HCR Wealth Advisors grew its position in shares of Alphabet by 2.6% in the 3rd quarter. HCR Wealth Advisors now owns 97,377 shares of the information services provider’s stock valued at $23,925,000 after buying an additional 2,484 shares during the last quarter. Jackson Wealth Management LLC grew its position in shares of Alphabet by 34.7% in the 3rd quarter. Jackson Wealth Management LLC now owns 58,862 shares of the information services provider’s stock valued at $14,309,000 after buying an additional 15,151 shares during the last quarter. Iowa State Bank grew its position in shares of Alphabet by 20.1% in the 3rd quarter. Iowa State Bank now owns 56,842 shares of the information services provider’s stock valued at $13,818,000 after buying an additional 9,511 shares during the last quarter. Summit Financial Wealth Advisors LLC grew its position in shares of Alphabet by 49.6% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 3,633 shares of the information services provider’s stock valued at $890,000 after buying an additional 1,205 shares during the last quarter. Finally, Morangie Management LLC grew its position in shares of Alphabet by 0.7% in the 3rd quarter. Morangie Management LLC now owns 7,802 shares of the information services provider’s stock valued at $1,897,000 after buying an additional 56 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Moffett Nathanson boosted their price target on Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. DA Davidson boosted their price target on Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, September 2nd. KeyCorp boosted their price target on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Wedbush upped their target price on Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a report on Wednesday, September 3rd. Finally, Jefferies Financial Group upped their target price on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday. Four analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.76.

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.