Alphabet Inc. (NASDAQ:GOOG) CEO Sells $3,614,175.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, September 4th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were 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 value of $3,772,350.00.
• On Wednesday, August 7th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were 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 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 value 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.

Alphabet Price Performance

Shares of GOOG stock opened at $164.64 on Friday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $166.26 and a two-hundred day simple moving average of $166.79. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Park Avenue Securities LLC raised its holdings in Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after purchasing an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC raised its stake in shares of Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after acquiring an additional 107 shares in the last quarter. Oak Ridge Investments LLC raised its stake in shares of Alphabet by 4.6% during the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after acquiring an additional 8,201 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in Alphabet by 4.6% during the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after acquiring an additional 498 shares during the last quarter. Finally, Alliance Wealth Management Group boosted its stake in Alphabet by 93.6% in the first quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock valued at $595,000 after acquiring an additional 1,890 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOG. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities cut 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. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer upped their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $182.86.

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.