Alphabet Inc. (NASDAQ:GOOG) CEO Sells $4,201,650.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, June 20th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were 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 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 stock was sold at an average price of $166.80, for a total value 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 value of $3,541,725.00.

Alphabet Trading Up 0.4 %

GOOG traded up $0.78 during mid-day trading on Wednesday, hitting $187.39. 7,409,106 shares of the stock were exchanged, compared to its average volume of 21,060,350. The company has a market cap of $2.32 trillion, a PE ratio of 28.74, a PEG ratio of 1.38 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average is $175.47 and its two-hundred day moving average is $156.57. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $187.62.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the firm earned $1.17 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a — 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 of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares during the last quarter. Capital International Investors lifted its position in shares of Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. Capital World Investors lifted its position in shares of Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after purchasing an additional 979,083 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Alphabet by 2.0% during the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after purchasing an additional 684,968 shares in the last quarter. Finally, Norges Bank purchased a new position in Alphabet in the fourth quarter valued at $4,101,040,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GOOG shares. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $167.86.

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.