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

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated 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 directly owns 2,652,696 shares in the company, 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 SEC, which is available at the SEC website.

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 Trading Down 1.0 %

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

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the business posted $1.89 EPS. Research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOGL. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a report on Tuesday, May 6th. Citigroup increased their price objective on Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. UBS Group set a $195.00 price target on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC reiterated a “buy” rating and issued a $178.00 target price on shares of Alphabet in a research report on Friday, April 25th. Finally, DZ Bank downgraded Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a research report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

Institutional Investors Weigh In On Alphabet

Several large investors have recently bought and sold shares of GOOGL. CenterBook Partners LP raised its stake in Alphabet by 43.8% during the 1st quarter. CenterBook Partners LP now owns 194,231 shares of the information services provider’s stock valued at $30,036,000 after buying an additional 59,184 shares during the last quarter. Keynote Financial Services LLC lifted its holdings in Alphabet by 0.6% in the first quarter. Keynote Financial Services LLC now owns 15,536 shares of the information services provider’s stock valued at $2,402,000 after acquiring an additional 98 shares during the period. Headlands Technologies LLC purchased a new position in Alphabet in the first quarter worth about $18,371,000. Battery Global Advisors LLC bought a new stake in shares of Alphabet during the 1st quarter valued at about $649,000. Finally, Waycross Partners LLC increased its position in shares of Alphabet by 23.6% during the 1st quarter. Waycross Partners LLC now owns 252,904 shares of the information services provider’s stock valued at $39,109,000 after purchasing an additional 48,277 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.