Insider Selling: Alphabet (NASDAQ:GOOGL) CEO Sells $9,213,100.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the transaction, the chief executive officer directly owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, October 15th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00.
• On Wednesday, October 1st, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00.
• On Wednesday, September 17th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00.
• On Wednesday, September 3rd, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00.
• On Wednesday, August 20th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $199.92, for a total transaction of $6,497,400.00.

Alphabet Stock Down 2.1%

NASDAQ GOOGL traded down $5.92 during trading on Friday, hitting $278.83. 34,412,149 shares of the company traded hands, compared to its average volume of 35,953,746. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The business has a fifty day simple moving average of $249.91 and a 200 day simple moving average of $203.28. The company has a market capitalization of $3.37 trillion, a P/E ratio of 27.50, a PEG ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. CIBC raised their target price on shares of Alphabet to $315.00 in a research note on Monday, October 20th. HSBC raised their target price on Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Citigroup restated a “buy” rating and issued a $343.00 price objective (up previously from $280.00) on shares of Alphabet in a research note on Thursday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $320.00 target price (up previously from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, Melius Research boosted their price objective on shares of Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $304.10.

Institutional Trading of Alphabet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. raised its stake in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in Alphabet during the 1st quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet in the first quarter valued at about $28,000. NBZ Investment Advisors LLC grew its stake in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Alphabet during the second quarter worth approximately $31,000. Institutional investors own 40.03% 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.