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

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 transaction of $3,741,750.00.
• On Wednesday, October 2nd, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $167.07, for a total transaction 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 stock was sold at an average price of $158.68, for a total value of $3,570,300.00.
• On Wednesday, August 21st, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00.

Alphabet Stock Up 4.0 %

GOOG stock traded up $6.92 during midday trading on Wednesday, hitting $178.33. 27,035,697 shares of the company’s stock were exchanged, compared to its average volume of 19,699,602. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The firm has a 50 day moving average price of $164.24 and a 200-day moving average price of $170.89.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 $86.39 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 7.97 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently modified their holdings of the stock. Colonial River Wealth Management LLC grew its position in Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after purchasing an additional 107 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Alphabet by 4.6% in 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 period. Marks Group Wealth Management Inc raised its holdings in Alphabet by 5.4% in the 3rd quarter. Marks Group Wealth Management Inc now owns 162,384 shares of the information services provider’s stock valued at $27,149,000 after acquiring an additional 8,304 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Alphabet by 4.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock worth $439,405,000 after acquiring an additional 115,716 shares during the period. Finally, TSA Wealth Managment LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at approximately $206,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Pivotal Research lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

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.