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

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $299.80, for a total transaction of $9,743,500.00. Following the completion of the transaction, the chief executive officer owned 2,239,619 shares in the company, valued at $671,437,776.20. This represents a 1.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value 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 value of $9,640,800.00.
• On Wednesday, November 5th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00.
• On Wednesday, October 15th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00.
• On Wednesday, October 1st, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00.

Alphabet Price Performance

GOOGL stock opened at $296.72 on Thursday. The stock’s 50 day moving average is $286.56 and its two-hundred day moving average is $232.35. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $328.83. The company has a market capitalization of $3.58 trillion, a PE ratio of 29.26, a P/E/G ratio of 1.77 and a beta of 1.07. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $315.00 price target on shares of Alphabet in a research report on Tuesday, December 2nd. Evercore ISI upped their price objective on Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. DA Davidson reaffirmed a “neutral” rating and set a $300.00 target price on shares of Alphabet in a report on Tuesday, November 25th. Sanford C. Bernstein boosted their price target on Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. Finally, Stifel Nicolaus set a $333.00 price target on Alphabet in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $315.18.

Institutional Trading of Alphabet

Several hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in Alphabet during the 2nd quarter valued at $21,944,208,000. Berkshire Hathaway Inc bought a new position in shares of Alphabet in the third quarter worth $4,338,397,000. Laurel Wealth Advisors LLC increased its holdings in shares of Alphabet by 17,667.7% during the second quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider’s stock valued at $2,686,640,000 after purchasing an additional 15,159,273 shares during the period. Capital World Investors raised its stake in shares of Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock valued at $12,910,542,000 after purchasing an additional 11,605,785 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Alphabet by 51.7% in the second quarter. Franklin Resources Inc. now owns 31,817,684 shares of the information services provider’s stock worth $5,607,232,000 after purchasing an additional 10,843,853 shares during the period. 40.03% of the stock is currently owned by institutional investors.

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.