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

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 transaction of $3,570,300.00.
• On Wednesday, August 21st, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00.
• On Wednesday, August 7th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00.
• On Wednesday, July 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00.
• 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.

Alphabet Stock Performance

GOOGL stock opened at $162.14 on Friday. The firm has a market cap of $2.00 trillion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $165.15 and its two-hundred day simple moving average is $165.11.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the business earned $1.44 earnings per share. Analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Analyst Ratings Changes

GOOGL has been the topic of a number of research reports. Citigroup boosted their target price on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. TD Securities increased their price objective on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a research report on Monday. Piper Sandler reduced their price objective on Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company boosted their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nebula Research & Development LLC purchased a new stake in shares of Alphabet during the fourth quarter worth about $787,000. New Hampshire Trust increased its stake in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares in the last quarter. Matisse Capital lifted its position in shares of Alphabet by 13.7% in the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after acquiring an additional 2,026 shares in the last quarter. Berkshire Money Management Inc. purchased a new position in Alphabet in the 1st quarter valued at $359,000. Finally, Schneider Downs Wealth Management Advisors LP lifted its stake in shares of Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after buying an additional 2,351 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

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.