Alphabet Inc. (NASDAQ:GOOG) CEO Sells $5,553,275.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer now owns 2,620,196 shares of the company’s stock, valued at $447,712,890.52. The trade was a 1.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, May 7th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00.
• 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 value of $5,075,200.00.
• On Wednesday, April 2nd, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00.

Alphabet Trading Down 1.4%

Shares of NASDAQ:GOOG opened at $169.59 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The stock has a market cap of $2.06 trillion, a PE ratio of 21.07, a P/E/G ratio of 1.34 and a beta of 1.01. The business has a 50 day moving average of $160.47 and a 200-day moving average of $176.61. 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 (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principia Wealth Advisory LLC raised its position in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $26,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. LSV Asset Management acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOG. Westpark Capital restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. KeyCorp reduced their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank reduced their price target on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a report on Monday, April 21st. Finally, Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $203.94.

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.