Alphabet (NASDAQ:GOOGL) CEO Sells $10,383,750.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the transaction, the chief executive officer owned 2,272,119 shares in the company, valued at $725,942,020.50. This represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, November 19th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00.
• 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 value of $9,213,100.00.
• On Wednesday, October 15th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $250.15, for a total value 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.

Alphabet Price Performance

Shares of GOOGL stock opened at $321.27 on Monday. The business’s fifty day moving average is $276.15 and its 200 day moving average is $224.91. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.88 trillion, a price-to-earnings ratio of 31.68, a PEG ratio of 1.86 and a beta of 1.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Analyst Ratings Changes

Several equities research analysts recently commented on GOOGL shares. Jefferies Financial Group boosted their price objective on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Wedbush reissued an “outperform” rating and issued a $320.00 price target (up from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. New Street Research upped their price target on Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Sanford C. Bernstein lifted their price objective on Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Finally, KeyCorp reissued an “overweight” rating and issued a $300.00 target price (up from $265.00) on shares of Alphabet in a report on Monday, October 27th. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $312.65.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently bought and sold shares of GOOGL. NBZ Investment Advisors LLC raised its stake in Alphabet by 85.7% during the 1st 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 last quarter. Financial Gravity Companies Inc. purchased a new stake in Alphabet during the second quarter valued at $31,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in Alphabet in the third quarter worth about $53,000. Finally, iSAM Funds UK Ltd bought a new stake in shares of Alphabet during the 3rd quarter valued at about $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About Alphabet

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.