Insider Selling: Alphabet Inc. (NASDAQ:GOOG) CEO Sells 22,500 Shares of Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, July 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00.
• On Wednesday, July 3rd, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00.
• On Thursday, June 20th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00.
• On Wednesday, June 5th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00.
• On Wednesday, May 15th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00.

Alphabet Price Performance

NASDAQ:GOOG traded up $0.21 during mid-day trading on Wednesday, reaching $160.75. The stock had a trading volume of 19,289,096 shares, compared to its average volume of 20,687,906. The stock has a market capitalization of $1.99 trillion, a P/E ratio of 24.64, a P/E/G ratio of 1.28 and a beta of 1.05. The firm has a 50 day moving average price of $179.29 and a two-hundred day moving average price of $163.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same period in the previous year, the business posted $1.44 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Institutional Trading of Alphabet

A number of hedge funds have recently modified their holdings of the business. Park Avenue Securities LLC increased its holdings in Alphabet by 11.9% in the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after acquiring an additional 11,646 shares in the last quarter. Strategic Blueprint LLC lifted its stake in shares of Alphabet by 36.7% during the 4th quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock valued at $2,123,000 after buying an additional 4,044 shares in the last quarter. Investment Partners LTD. boosted its holdings in Alphabet by 5.8% in the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after buying an additional 410 shares during the period. Desjardins Global Asset Management Inc. increased its stake in Alphabet by 47.9% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 50,333 shares of the information services provider’s stock worth $7,094,000 after buying an additional 16,295 shares in the last quarter. Finally, Apexium Financial LP raised its holdings in Alphabet by 335.9% during the fourth quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock valued at $7,586,000 after acquiring an additional 41,476 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $182.86.

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.