Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai Sells 22,500 Shares

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, November 6th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00.
• On Wednesday, October 16th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00.
• On Wednesday, October 2nd, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00.
• On Wednesday, September 18th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00.
• On Wednesday, September 4th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00.

Alphabet Stock Down 1.3 %

GOOGL traded down $2.15 on Friday, reaching $165.48. The company’s stock had a trading volume of 12,593,795 shares, compared to its average volume of 27,141,961. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The stock has a 50 day moving average of $167.50 and a two-hundred day moving average of $170.38. The company has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the business earned $1.55 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. KeyCorp boosted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday, October 24th. Finally, Piper Sandler restated an “overweight” rating and set a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.90.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. LMR Partners LLP acquired a new stake in Alphabet in the third quarter valued at about $32,000. Kings Path Partners LLC acquired a new stake in Alphabet in the second quarter valued at $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet during the 2nd quarter worth $41,000. Finally, Quarry LP acquired a new position in Alphabet during the second quarter worth $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Company Profile

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.