Alphabet Inc. (NASDAQ:GOOGL) CEO Sells $3,652,875.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. 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, July 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00.
• 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 transaction 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 Stock Up 1.0 %

GOOGL opened at $163.67 on Friday. The company has a market cap of $2.02 trillion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The firm has a 50 day moving average price of $177.03 and a 200 day moving average price of $161.88. 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 (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period last year, the company earned $1.44 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter worth $15,441,917,000. Capital Research Global Investors increased its holdings in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Vanguard Group Inc. lifted its position in Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after buying an additional 6,010,548 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GOOGL shares. Mizuho increased their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Robert W. Baird boosted their target price on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Argus lifted their price target on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Roth Mkm increased their target price on Alphabet from $202.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group upped their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $203.74.

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.