Alphabet (NASDAQ:GOOGL) CEO Sundar Pichai Sells 32,500 Shares

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the sale, the chief executive officer owned 2,337,119 shares in the company, valued at $662,526,494.12. The trade was a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, October 15th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00.
• 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 transaction of $7,910,825.00.
• On Wednesday, September 17th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00.
• On Wednesday, September 3rd, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00.
• On Wednesday, August 20th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00.

Alphabet Trading Down 2.1%

Shares of GOOGL stock traded down $5.92 on Friday, reaching $278.83. 34,412,149 shares of the stock were exchanged, compared to its average volume of 35,953,746. 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 Inc. has a one year low of $140.53 and a one year high of $291.59. The stock has a market cap of $3.37 trillion, a PE ratio of 27.50, a P/E/G ratio of 1.86 and a beta of 1.05. The stock has a 50 day moving average price of $249.91 and a 200 day moving average price of $203.28.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Institutional Trading of Alphabet

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Alphabet in the 2nd quarter valued at about $21,944,208,000. Nuveen LLC bought a new position in Alphabet in the first quarter valued at approximately $4,317,606,000. Laurel Wealth Advisors LLC increased its position in shares of Alphabet by 17,667.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider’s stock worth $2,686,640,000 after purchasing an additional 15,159,273 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Alphabet by 51.7% in the 2nd quarter. Franklin Resources Inc. now owns 31,817,684 shares of the information services provider’s stock valued at $5,607,232,000 after buying an additional 10,843,853 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $290.00 price objective on shares of Alphabet in a research note on Wednesday, October 22nd. BNP Paribas Exane raised their target price on Alphabet from $247.00 to $281.00 and gave the stock a “neutral” rating in a report on Monday. Bank of America boosted their target price on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Wedbush restated an “outperform” rating and set a $320.00 price objective (up previously from $245.00) on shares of Alphabet in a report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $304.10.

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.