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 firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 value of $3,990,600.00.
• On Wednesday, October 16th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were 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 stock was 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 shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00.

Alphabet Stock Down 1.7 %

Shares of NASDAQ:GOOGL opened at $164.76 on Friday. The firm has a market capitalization of $2.02 trillion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03. The business has a 50 day simple moving average of $167.64 and a two-hundred day simple moving average of $170.35. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the business earned $1.55 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. LMR Partners LLP purchased a new stake in Alphabet in the third quarter worth about $32,000. Kings Path Partners LLC bought a new position in Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC purchased a new position in Alphabet during the 2nd quarter valued at about $41,000. Finally, Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter valued at about $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Tigress Financial boosted their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. DA Davidson assumed coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Truist Financial boosted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.90.

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.