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

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $321.21, for a total value of $10,439,325.00. Following the transaction, the chief executive officer directly owned 2,244,372 shares in the company, valued at approximately $720,914,730.12. This represents a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Monday, December 15th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $299.80, for a total value of $9,743,500.00.
  • On Wednesday, December 3rd, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $319.50, for a total value of $10,383,750.00.
  • On Wednesday, November 19th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00.
  • On Wednesday, November 5th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $283.48, for a total transaction 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 transaction of $8,129,875.00.

Alphabet Stock Performance

NASDAQ GOOGL traded up $3.46 on Thursday, hitting $325.44. 31,834,349 shares of the company’s stock were exchanged, compared to its average volume of 32,070,525. The firm has a market cap of $3.93 trillion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 1.73 and a beta of 1.08. The firm’s 50-day moving average price is $304.36 and its two-hundred day moving average price is $247.06. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $330.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data 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. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Moffett Nathanson upped their price target on shares of Alphabet from $305.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Piper Sandler reissued an “overweight” rating and set a $365.00 price target (up previously from $330.00) on shares of Alphabet in a research report on Thursday, December 11th. DZ Bank restated a “buy” rating on shares of Alphabet in a research report on Thursday, November 20th. Wall Street Zen raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Sanford C. Bernstein raised their price target on shares of Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $322.42.

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Institutional Investors Weigh In On Alphabet

Institutional investors have recently added to or reduced their stakes in the company. PMV Capital Advisers LLC purchased a new position in shares of Alphabet in the 4th quarter valued at $38,000. Financial Gravity Companies Inc. purchased a new stake in shares of Alphabet in the second quarter worth about $31,000. iSAM Funds UK Ltd purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $53,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Alphabet during the 3rd quarter worth approximately $53,000. Finally, Corsicana & Co. acquired a new stake in Alphabet in the third quarter valued at approximately $54,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Alphabet Company Profile

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOGL)

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