Alphabet (NASDAQ:GOOG) CEO Sundar Pichai Sells 32,500 Shares of Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the sale, the chief executive officer directly owned 2,304,619 shares of the company’s stock, valued at $683,642,180.16. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, November 5th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00.
• On Wednesday, October 15th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $250.15, for a total transaction 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 shares were sold at an average price of $249.50, for a total value 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 value of $7,466,225.00.

Alphabet Price Performance

Shares of GOOG stock traded up $9.67 on Friday, hitting $299.65. 43,534,785 shares of the company’s stock were exchanged, compared to its average volume of 23,614,018. The company has a 50 day moving average of $262.98 and a 200 day moving average of $213.90. The stock has a market cap of $3.62 trillion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $306.89.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.12 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GOOG shares. DA Davidson set a $825.00 target price on shares of Alphabet in a research note on Monday, October 27th. KeyCorp reissued an “overweight” rating and set a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Raymond James Financial set a $275.00 target price on Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. Scotiabank set a $336.00 target price on Alphabet and gave the company a “sector outperform” rating in a research report on Thursday, October 30th. Finally, Oppenheimer lifted their price target on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. acquired a new stake in shares of Alphabet in the third quarter valued at about $305,101,000. Ovata Capital Management Ltd boosted its holdings in Alphabet by 158.3% in the third quarter. Ovata Capital Management Ltd now owns 9,300 shares of the information services provider’s stock valued at $2,265,000 after acquiring an additional 5,700 shares during the last quarter. Maple Capital Management Inc. increased its position in Alphabet by 1.2% during the 3rd quarter. Maple Capital Management Inc. now owns 446,070 shares of the information services provider’s stock valued at $108,640,000 after purchasing an additional 5,280 shares during the period. Achmea Investment Management B.V. raised its holdings in Alphabet by 0.8% during the 3rd quarter. Achmea Investment Management B.V. now owns 557,250 shares of the information services provider’s stock worth $135,718,000 after purchasing an additional 4,430 shares during the last quarter. Finally, Ariadne Wealth Management LP lifted its position in shares of Alphabet by 0.7% in the 3rd quarter. Ariadne Wealth Management LP now owns 8,026 shares of the information services provider’s stock worth $1,955,000 after purchasing an additional 54 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

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.