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

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the transaction, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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 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.
• On Wednesday, August 20th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00.

Alphabet Stock Performance

NASDAQ GOOG opened at $279.70 on Friday. 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 1-year low of $142.66 and a 1-year high of $291.93. The business has a 50 day simple moving average of $251.81 and a two-hundred day simple moving average of $205.49. The stock has a market capitalization of $3.38 trillion, a PE ratio of 27.58, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the prior year, the company earned $2.12 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOG shares. Pivotal Research boosted their target price on shares of Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $340.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Oppenheimer raised their price objective on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Mizuho set a $325.00 target price on Alphabet in a report on Thursday, October 30th. Finally, Wolfe Research increased their price target on Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Institutional Trading of Alphabet

Institutional investors and hedge funds have recently made changes to their positions in the business. RDA Financial Network lifted its holdings in shares of Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares during the period. Bleakley Financial Group LLC raised its position in Alphabet by 1.4% during the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after buying an additional 2,304 shares during the last quarter. Oldfather Financial Services LLC purchased a new position in Alphabet during the 2nd quarter worth approximately $213,000. Tower View Wealth Management LLC lifted its stake in Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after acquiring an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. boosted its holdings in shares of Alphabet by 0.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after acquiring an additional 1,970 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

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.