Sundar Pichai Sells 22,500 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, June 20th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00.
• On Wednesday, June 5th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $176.58, for a total transaction 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 transaction of $3,897,450.00.
• On Wednesday, May 1st, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was 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.

Alphabet Stock Performance

Shares of GOOG opened at $187.39 on Friday. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $187.62. The stock has a market capitalization of $2.32 trillion, a P/E ratio of 28.74, a P/E/G ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company’s fifty day moving average is $175.99 and its two-hundred day moving average is $156.79.

Alphabet (NASDAQ:GOOG) last released 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 $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Hedge Funds Weigh In On Alphabet

Large investors have recently made changes to their positions in the stock. Kennedy Capital Management LLC lifted its position in shares of Alphabet by 13.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 64,711 shares of the information services provider’s stock valued at $8,532,000 after acquiring an additional 7,556 shares during the period. Jackson Wealth Management LLC increased its stake in Alphabet by 4.6% in the 3rd quarter. Jackson Wealth Management LLC now owns 39,806 shares of the information services provider’s stock valued at $5,248,000 after purchasing an additional 1,735 shares in the last quarter. JS Capital Management LLC raised its holdings in Alphabet by 164.0% during the third quarter. JS Capital Management LLC now owns 330,000 shares of the information services provider’s stock worth $43,510,000 after purchasing an additional 205,000 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. Finally, Seven Eight Capital LP grew its holdings in Alphabet by 48.1% in the third quarter. Seven Eight Capital LP now owns 88,776 shares of the information services provider’s stock valued at $11,705,000 after purchasing an additional 28,838 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOG. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, Oppenheimer upped their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $167.86.

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.