Alphabet Inc. (NASDAQ:GOOG) CEO Sells $5,066,750.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the completion of the sale, the chief executive officer now owns 2,652,696 shares in the company, valued at $413,555,306.40. This represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, April 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $156.16, for a total transaction 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 Performance

GOOG stock opened at $154.38 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The business has a 50-day moving average price of $160.96 and a 200 day moving average price of $176.85. The company has a market capitalization of $1.87 trillion, a P/E ratio of 19.18, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm earned $1.89 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is 9.36%.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of Alphabet by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after buying an additional 264,962 shares during the last quarter. Regent Peak Wealth Advisors LLC boosted its stake in Alphabet by 0.6% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 17,606 shares of the information services provider’s stock valued at $3,353,000 after acquiring an additional 108 shares in the last quarter. Worth Asset Management LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $211,000. Legacy Private Trust Co. grew its holdings in Alphabet by 34.1% in the fourth quarter. Legacy Private Trust Co. now owns 9,538 shares of the information services provider’s stock worth $1,816,000 after purchasing an additional 2,424 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV increased its position in shares of Alphabet by 0.4% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 113,545 shares of the information services provider’s stock worth $21,624,000 after purchasing an additional 418 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOOG shares. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Citigroup restated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Westpark Capital reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, UBS Group cut their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $203.94.

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.