Sundar Pichai Sells 32,500 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 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 transaction of $5,153,200.00.

Alphabet Stock Down 1.0 %

Shares of NASDAQ:GOOGL opened at $152.75 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business’s 50-day moving average is $158.93 and its 200-day moving average is $175.18. The company has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the previous year, the firm earned $1.89 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.55%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 14,307,345 shares during the last quarter. FMR LLC lifted its position in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. Norges Bank purchased a new position in Alphabet during the fourth quarter worth about $24,383,677,000. Price T Rowe Associates Inc. MD grew its position in Alphabet by 8.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after buying an additional 10,037,685 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on GOOGL shares. Wells Fargo & Company lifted their price objective on shares of Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, April 25th. Westpark Capital reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday. Citigroup upped their target price on Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Jefferies Financial Group decreased their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Bank of America upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $199.75.

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.