Alphabet Inc. (NASDAQ:GOOG) CEO Sells $3,753,000.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, April 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00.
• On Wednesday, April 3rd, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00.
• On Wednesday, March 20th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00.
• On Wednesday, March 6th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00.
• On Wednesday, February 21st, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $143.08, for a total transaction of $3,219,300.00.
• On Wednesday, February 7th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00.

Alphabet Stock Performance

Shares of GOOG opened at $168.99 on Friday. Alphabet Inc. has a one year low of $104.70 and a one year high of $176.42. The company has a 50-day moving average of $150.99 and a two-hundred day moving average of $143.49. The stock has a market cap of $2.10 trillion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.23 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period last year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts expect that Alphabet Inc. will post 7.66 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GOOG. Norges Bank purchased a new position in Alphabet during the fourth quarter valued at approximately $4,101,040,000. JPMorgan Chase & Co. grew its position in Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Alphabet during the fourth quarter valued at approximately $11,600,970,000. FMR LLC grew its position in Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after purchasing an additional 4,348,188 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Alphabet by 198.7% during the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after purchasing an additional 2,583,128 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on GOOG. Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Oppenheimer lifted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Finally, Raymond James lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $165.67.

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.