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

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 transaction 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 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 value of $3,991,500.00.
• On Wednesday, June 5th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00.

Alphabet Trading Down 0.8 %

GOOGL stock opened at $165.85 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The business has a 50 day simple moving average of $175.18 and a two-hundred day simple moving average of $162.89. The company has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the firm earned $1.44 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Institutional Investors Weigh In On Alphabet

Several large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Alphabet during the fourth quarter valued at $15,441,917,000. Capital Research Global Investors raised its position in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after acquiring an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after acquiring an additional 6,010,548 shares in the last quarter. Finally, Wulff Hansen & CO. grew its position in Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after acquiring an additional 4,410,811 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a report on Tuesday, July 30th. Bank of America lifted their target price on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Barclays increased their price target on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $196.00 target price on shares of Alphabet in a report on Wednesday, May 15th. Six analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $203.74.

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.