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

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 stock was 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 stock was 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.
• On Wednesday, July 3rd, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00.
• On Thursday, June 20th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $164.64 on Friday. The business’s 50 day moving average price is $166.26 and its 200-day moving average price is $166.79. Alphabet Inc. has a 1 year low of $121.46 and a 1 year 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 firm has a market capitalization of $2.03 trillion, a PE ratio of 25.25, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.44 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Oppenheimer boosted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, TD Cowen raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Institutional Trading of Alphabet

Several large investors have recently added to or reduced their stakes in GOOG. Gilbert & Cook Inc. increased its position in Alphabet by 15.5% during the fourth quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after purchasing an additional 3,924 shares during the last quarter. Concentrum Wealth Management raised its position in shares of Alphabet by 25.0% during the 4th quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after buying an additional 3,283 shares during the period. Aveo Capital Partners LLC raised its position in shares of Alphabet by 2.4% during the 4th quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock valued at $937,000 after buying an additional 154 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Alphabet in the fourth quarter worth approximately $620,000. Finally, Clearbridge Investments LLC increased its stake in Alphabet by 1.3% during the fourth quarter. Clearbridge Investments LLC now owns 1,311,361 shares of the information services provider’s stock worth $184,810,000 after acquiring an additional 16,902 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

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.