Alphabet (NASDAQ:GOOGL) CEO Sells $8,129,875.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, October 1st, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00.
• On Wednesday, September 17th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00.
• On Wednesday, September 3rd, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00.
• On Wednesday, August 20th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00.
• On Wednesday, August 6th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00.

Alphabet Trading Up 0.7%

GOOGL stock opened at $253.30 on Monday. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.96. The stock has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The company has a fifty day moving average price of $231.55 and a two-hundred day moving average price of $192.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Truist Financial boosted their price objective on Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Citizens Jmp lifted their price target on Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Guggenheim reaffirmed a “buy” rating and issued a $280.00 price objective (up from $210.00) on shares of Alphabet in a report on Friday. KeyCorp increased their price objective on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Wedbush boosted their target price on shares of Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $252.24.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Guardian Wealth Management Inc. lifted its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. bought a new position in Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Alphabet in the 2nd quarter valued at $31,000. Institutional investors own 40.03% of the company’s stock.

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.