Alphabet (NASDAQ:GOOGL) CEO Sells $7,910,825.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 shares were 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 stock was 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 stock was sold at an average price of $196.23, for a total value of $6,377,475.00.
• On Wednesday, July 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00.

Alphabet Stock Down 0.1%

Shares of NASDAQ:GOOGL opened at $245.35 on Friday. The business’s 50 day simple moving average is $221.25 and its two-hundred day simple moving average is $185.96. The firm has a market cap of $2.97 trillion, a P/E ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 8.95%.

Institutional Trading of Alphabet

A number of institutional investors and hedge funds have recently modified their holdings of the business. HCR Wealth Advisors increased its position in shares of Alphabet by 2.6% during the third quarter. HCR Wealth Advisors now owns 97,377 shares of the information services provider’s stock valued at $23,925,000 after acquiring an additional 2,484 shares during the last quarter. Jackson Wealth Management LLC increased its position in Alphabet by 34.7% in the third quarter. Jackson Wealth Management LLC now owns 58,862 shares of the information services provider’s stock worth $14,309,000 after buying an additional 15,151 shares during the last quarter. Iowa State Bank increased its position in Alphabet by 20.1% in the third quarter. Iowa State Bank now owns 56,842 shares of the information services provider’s stock worth $13,818,000 after buying an additional 9,511 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its position in Alphabet by 49.6% in the third quarter. Summit Financial Wealth Advisors LLC now owns 3,633 shares of the information services provider’s stock worth $890,000 after buying an additional 1,205 shares during the last quarter. Finally, Morangie Management LLC increased its position in Alphabet by 0.7% in the third quarter. Morangie Management LLC now owns 7,802 shares of the information services provider’s stock worth $1,897,000 after buying an additional 56 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GOOGL shares. Morgan Stanley set a $270.00 price objective on Alphabet and gave the stock an “overweight” rating in a research note on Thursday. Melius Research increased their price objective on Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Loop Capital reissued a “hold” rating and issued a $190.00 price objective (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. BMO Capital Markets increased their price objective on Alphabet from $208.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Finally, DA Davidson increased their price objective on Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $240.76.

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.