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

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the transaction, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. The sale 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 18th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $160.63, for a total value 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 value 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 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 stock was sold at an average price of $182.84, for a total value of $4,113,900.00.

Alphabet Stock Performance

NASDAQ GOOG opened at $167.31 on Thursday. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The company has a market cap of $2.07 trillion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. 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 stock’s 50 day simple moving average is $163.57 and its 200-day simple moving average is $168.50.

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

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is 12.27%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at about $34,000. Abich Financial Wealth Management LLC raised its stake in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the 2nd quarter valued at approximately $37,000. HWG Holdings LP acquired a new position in Alphabet during the 2nd quarter worth approximately $40,000. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet during the 2nd quarter worth approximately $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOG. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer dropped their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $183.75.

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.