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

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the sale, the chief executive officer now directly owns 2,620,196 shares in the company, valued at $447,712,890.52. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, May 7th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00.
• On Wednesday, April 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were 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 stock was sold at an average price of $158.56, for a total value of $5,153,200.00.

Alphabet Stock Down 1.4%

NASDAQ:GOOG opened at $169.59 on Friday. The stock’s fifty day moving average price is $160.47 and its two-hundred day moving average price is $176.61. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.07, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. Alphabet’s payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Oppenheimer boosted their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. UBS Group reduced their target price on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $203.94.

Institutional Trading of Alphabet

Large investors have recently made changes to their positions in the company. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $27,000. LSV Asset Management acquired a new position in Alphabet in the 4th quarter worth $27,000. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in Alphabet in the 1st quarter worth $26,000. Finally, WealthTrak Capital Management LLC acquired a new position in Alphabet in the 4th quarter worth $38,000. Institutional investors own 27.26% of the company’s stock.

About Alphabet

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.