Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai Sells 32,500 Shares

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the sale, the chief executive officer now owns 2,652,696 shares in the company, valued at $413,555,306.40. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, April 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $156.16, for a total value of $5,075,200.00.
• On Wednesday, April 2nd, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $154.38 on Friday. The stock’s fifty day simple moving average is $160.96 and its 200 day simple moving average is $176.93. The stock has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.54%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is presently 9.36%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. FMR LLC boosted its holdings in shares of Alphabet by 2.8% during the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock worth $22,470,344,000 after purchasing an additional 3,189,592 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock worth $19,894,651,000 after purchasing an additional 1,219,606 shares during the period. Capital International Investors grew its position in Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after buying an additional 7,917,625 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GOOG shares. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. KeyCorp decreased their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Susquehanna reissued a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $203.94.

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.