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

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $321.21, for a total value of $10,439,325.00. Following the completion of the sale, the chief executive officer owned 2,244,372 shares in the company, valued at approximately $720,914,730.12. This represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

  • On Monday, December 15th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $299.80, for a total value of $9,743,500.00.
  • 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 transaction of $10,383,750.00.
  • 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 transaction 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 transaction of $8,129,875.00.

Alphabet Stock Performance

Shares of GOOGL opened at $328.57 on Friday. The company has a 50-day simple moving average of $306.19 and a two-hundred day simple moving average of $248.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market capitalization of $3.96 trillion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08. Alphabet Inc. has a one year low of $140.53 and a one year high of $330.83.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GOOGL. Financial Gravity Companies Inc. bought a new position in shares of Alphabet during the 2nd quarter valued at $31,000. PMV Capital Advisers LLC bought a new position in Alphabet in the fourth quarter valued at about $38,000. 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. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOGL. Cantor Fitzgerald raised shares of Alphabet from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $310.00 to $370.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Truist Financial set a $350.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Friday, December 5th. Sanford C. Bernstein raised their price objective on Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group set a $390.00 target price on Alphabet and gave the stock a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $323.19.

Read Our Latest Analysis on GOOGL

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About Alphabet

(Get Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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