Insider Selling: Alphabet (NASDAQ:GOOGL) CEO Sells 32,500 Shares of Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the completion of the transaction, the chief executive officer owned 2,304,619 shares in the company, valued at $683,642,180.16. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, November 5th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00.
• On Wednesday, October 15th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were 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 stock was sold at an average price of $243.41, for a total value 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 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.

Alphabet Trading Up 3.5%

NASDAQ GOOGL traded up $10.21 during trading hours on Friday, hitting $299.66. 73,930,774 shares of the company’s stock were exchanged, compared to its average volume of 36,319,234. The firm has a market cap of $3.62 trillion, a price-to-earnings ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05. The stock has a 50-day simple moving average of $262.39 and a 200 day simple moving average of $213.06. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $306.42.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. DA Davidson boosted their target price on Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Sanford C. Bernstein increased their price target on Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. Bank of America boosted their price objective on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. President Capital upped their target price on Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Susquehanna increased their target price on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $305.33.

Institutional Investors Weigh In On Alphabet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. bought a new position in Alphabet during the first quarter valued at about $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the period. Financial Gravity Companies Inc. purchased a new stake in Alphabet during the second quarter worth about $31,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 40.03% 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.