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

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, October 16th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00.
• On Wednesday, October 2nd, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $167.07, for a total transaction of $3,759,075.00.
• On Wednesday, September 18th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $160.63, for a total transaction 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 transaction 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 transaction of $3,772,350.00.

Alphabet Stock Performance

GOOGL traded up $6.77 on Wednesday, reaching $176.51. 33,676,915 shares of the stock were exchanged, compared to its average volume of 27,207,359. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company’s 50-day moving average price is $162.86 and its 200 day moving average price is $169.36. The firm has a market capitalization of $2.17 trillion, a PE ratio of 23.41, a PEG ratio of 1.22 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the company earned $1.55 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s dividend payout ratio is presently 10.61%.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet in the second quarter valued at $36,000. Denver PWM LLC acquired a new position in shares of Alphabet in the second quarter worth about $41,000. CarsonAllaria Wealth Management Ltd. increased its stake in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter worth about $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOGL. Wells Fargo & Company increased their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Wolfe Research began coverage on shares of Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective for the company. Evercore ISI raised their target price on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Finally, KeyCorp raised their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

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.