Insider Selling: Alphabet Inc. (NASDAQ:GOOGL) CEO Sells $3,991,500.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, June 5th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00.
• On Wednesday, May 15th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00.
• On Wednesday, May 1st, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00.
• On Wednesday, April 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00.
• On Wednesday, April 3rd, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00.

Alphabet Stock Down 0.1 %

Shares of NASDAQ GOOGL opened at $183.88 on Thursday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $184.51. The firm has a 50-day moving average price of $171.13 and a 200 day moving average price of $153.36. The stock has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period last year, the firm posted $1.17 EPS. Equities research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Hedge Funds Weigh In On Alphabet

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after buying an additional 4,064,073 shares in the last quarter. FMR LLC grew its holdings in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. Norges Bank purchased a new stake in Alphabet in the fourth quarter valued at approximately $15,441,917,000. Northern Trust Corp grew its holdings in Alphabet by 3.7% in the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after purchasing an additional 2,416,328 shares during the period. Finally, Capital Research Global Investors grew its holdings in Alphabet by 14.4% in the first 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 purchasing an additional 7,275,757 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOGL. Raymond James increased their target price on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Citigroup increased their target price on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Truist Financial increased their target price on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Royal Bank of Canada increased their target price on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Jefferies Financial Group increased their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $193.69.

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.