Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai Sells 32,500 Shares

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,652,696 shares of the company’s stock, valued at approximately $413,555,306.40. This represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, April 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $156.16, for a total transaction of $5,075,200.00.
• On Wednesday, April 2nd, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00.

Alphabet Stock Down 0.9 %

GOOG stock opened at $154.38 on Friday. The business’s 50-day moving average price is $160.96 and its 200-day moving average price is $176.85. The stock has a market cap of $1.87 trillion, a P/E ratio of 19.18, a PEG ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is presently 9.36%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GOOG shares. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Wedbush reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $203.94.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $5,166,070,000. GAMMA Investing LLC increased its holdings in Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after acquiring an additional 14,246,573 shares during the last quarter. Vanguard Group Inc. lifted its stake in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Alphabet during the 4th quarter valued at about $1,551,533,000. Finally, Northern Trust Corp boosted its holdings in shares of Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. 27.26% of the stock is 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.