Alphabet Inc. (NASDAQ:GOOGL) CEO Sells $3,991,500.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, June 5th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00.
• On Wednesday, May 15th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00.
• On Wednesday, May 1st, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00.
• On Wednesday, April 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00.
• On Wednesday, April 3rd, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00.

Alphabet Price Performance

GOOGL opened at $179.63 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock’s 50 day simple moving average is $170.05 and its 200 day simple moving average is $152.72. The firm has a market cap of $2.22 trillion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $180.85.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter last year, the business earned $1.17 earnings per share. As a group, analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is currently 12.27%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $215.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. UBS Group boosted their target price on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. increased their price target on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Oppenheimer upped their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Needham & Company LLC lifted their price target on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $193.26.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. RWQ Financial Management Services Inc. lifted its stake in shares of Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares during the period. Picton Mahoney Asset Management boosted its holdings in shares of Alphabet by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after buying an additional 76,410 shares in the last quarter. Robbins Farley increased its stake in shares of Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after acquiring an additional 118 shares in the last quarter. Nebula Research & Development LLC purchased a new position in Alphabet during the 4th quarter valued at about $787,000. Finally, CKW Financial Group boosted its stake in Alphabet by 5.8% during the first quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock worth $2,150,000 after acquiring an additional 760 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.