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

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $319.50, for a total value of $10,383,750.00. Following the transaction, the chief executive officer directly owned 2,272,119 shares in the company, valued at approximately $725,942,020.50. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, November 19th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00.
• On Wednesday, November 5th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00.
• On Wednesday, October 15th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00.
• On Wednesday, October 1st, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00.
• 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 transaction of $8,108,750.00.

Alphabet Stock Up 1.1%

Alphabet stock opened at $321.27 on Friday. The firm has a market capitalization of $3.88 trillion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. The firm’s fifty day moving average price is $276.15 and its two-hundred day moving average price is $224.51. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $328.83. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. On average, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. China Renaissance increased their price target on Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Stifel Nicolaus set a $333.00 target price on shares of Alphabet in a report on Thursday, October 30th. Robert W. Baird boosted their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Wolfe Research reaffirmed an “outperform” rating and issued a $350.00 price objective (up from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $330.00 target price (up previously from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.65.

Institutional Investors Weigh In On Alphabet

Several large investors have recently modified their holdings of GOOGL. NBZ Investment Advisors LLC lifted its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in Alphabet in the 2nd quarter valued at about $31,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Alphabet during the third quarter worth about $53,000. Finally, iSAM Funds UK Ltd bought a new position in Alphabet during the third quarter worth about $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.