Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai Sells 22,500 Shares

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the 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 transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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 shares were 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 value 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 value 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 Stock Performance

Shares of Alphabet stock opened at $179.22 on Tuesday. The business’s fifty day simple moving average is $170.54 and its 200 day simple moving average is $153.02. The firm has a market capitalization of $2.21 trillion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $180.89. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

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

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Tigress Financial increased their price target on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, May 24th. UBS Group raised 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. Sanford C. Bernstein raised their target price on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $195.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. raised their target price on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $193.26.

Institutional Trading of Alphabet

Large investors have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet in the fourth quarter valued at $30,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet in the first quarter valued at $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at $38,000. Meritage Group LP grew its position in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its position in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.