Sundar Pichai Sells 32,500 Shares of Alphabet (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $299.80, for a total value of $9,743,500.00. Following the completion of the transaction, the chief executive officer owned 2,239,619 shares of the company’s stock, valued at $671,437,776.20. This trade represents a 1.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, December 3rd, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $319.50, for a total value of $10,383,750.00.
• On Wednesday, November 19th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00.
• On Wednesday, November 5th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was 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 shares were 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 transaction of $7,910,825.00.

Alphabet Stock Performance

GOOG opened at $303.75 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $328.67. The firm has a 50 day moving average of $288.40 and a two-hundred day moving average of $233.60. The firm has a market capitalization of $3.67 trillion, a PE ratio of 29.96, a P/E/G ratio of 1.73 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the prior year, the business earned $2.12 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Oppenheimer boosted their price objective on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Robert W. Baird boosted their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. upped their price objective on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Barclays lifted their target price on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, UBS Group reiterated a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $313.04.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AIA Group Ltd increased its holdings in Alphabet by 23.9% in the 3rd quarter. AIA Group Ltd now owns 137,235 shares of the information services provider’s stock worth $33,424,000 after acquiring an additional 26,450 shares in the last quarter. Alternative Investment Advisors LLC. grew its position in shares of Alphabet by 10.7% in the third quarter. Alternative Investment Advisors LLC. now owns 1,472 shares of the information services provider’s stock valued at $358,000 after purchasing an additional 142 shares during the period. Keel Point LLC increased its stake in shares of Alphabet by 1.7% during the third quarter. Keel Point LLC now owns 33,012 shares of the information services provider’s stock worth $8,040,000 after purchasing an additional 561 shares in the last quarter. Mirabella Financial Services LLP raised its position in shares of Alphabet by 22.0% during the 3rd quarter. Mirabella Financial Services LLP now owns 14,400 shares of the information services provider’s stock worth $3,507,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Farmers National Bank raised its position in shares of Alphabet by 11.1% during the 3rd quarter. Farmers National Bank now owns 45,029 shares of the information services provider’s stock worth $10,967,000 after purchasing an additional 4,490 shares during the last quarter. Hedge funds and other institutional investors own 27.26% 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.