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

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, September 4th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00.
• On Wednesday, August 21st, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00.
• On Wednesday, August 7th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00.
• On Wednesday, July 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00.
• On Thursday, June 20th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00.

Alphabet Trading Up 0.3 %

Shares of NASDAQ:GOOGL traded up $0.49 on Wednesday, reaching $159.81. 23,643,348 shares of the company traded hands, compared to its average volume of 27,662,500. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $165.62 and its 200 day simple moving average is $165.13. The stock has a market capitalization of $1.97 trillion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the firm earned $1.44 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Institutional Trading of Alphabet

Large investors have recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. lifted its stake in Alphabet by 2.8% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 62,657 shares of the information services provider’s stock worth $11,413,000 after acquiring an additional 1,705 shares during the period. American Trust lifted its position in shares of Alphabet by 11.1% in the 2nd quarter. American Trust now owns 9,543 shares of the information services provider’s stock worth $1,738,000 after purchasing an additional 953 shares during the period. Summit Wealth Partners LLC purchased a new position in shares of Alphabet during the second quarter valued at about $208,000. Brightwater Advisory LLC purchased a new position in shares of Alphabet during the second quarter valued at about $426,000. Finally, Heritage Wealth Management Inc. bought a new position in Alphabet in the second quarter worth about $1,792,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GOOGL shares. TD Securities raised their target price on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Citigroup increased their price objective on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Cantor Fitzgerald began coverage on Alphabet in a research note on Thursday, September 5th. They issued a “neutral” rating and a $190.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, DA Davidson began coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $201.08.

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.