Sundar Pichai Sells 22,500 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, July 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00.
• On Wednesday, July 3rd, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00.
• 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 transaction of $3,991,500.00.
• 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 stock was sold at an average price of $173.22, for a total transaction of $3,897,450.00.

Alphabet Price Performance

Shares of GOOG opened at $165.39 on Friday. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock’s fifty day moving average is $178.60 and its 200-day moving average is $163.32.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is presently 12.27%.

Institutional Investors Weigh In On Alphabet

Hedge funds have recently modified their holdings of the business. Partnership Wealth Management LLC purchased a new position in Alphabet in the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet in the fourth quarter valued at about $32,000. Pacific Capital Wealth Advisors Inc. bought a new position in Alphabet in the fourth quarter valued at approximately $34,000. Finally, Richardson Financial Services Inc. acquired a new position in Alphabet in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Oppenheimer raised their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. TD Cowen boosted their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $182.86.

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.