Sundar Pichai Sells 22,500 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, August 7th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00.
• 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 Wednesday, July 3rd, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00.
• On Thursday, June 20th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $177.40, for a total value 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.

Alphabet Trading Down 0.8 %

NASDAQ:GOOG traded down $1.33 on Wednesday, hitting $167.63. 15,249,719 shares of the stock were exchanged, compared to its average volume of 20,347,398. The stock has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 1.28 and a beta of 1.05. 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 52 week low of $121.46 and a 52 week high of $193.31. The company’s 50-day moving average price is $176.79 and its 200 day moving average price is $164.34.

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, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the prior year, the business posted $1.44 earnings per share. Alphabet’s revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts forecast 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. Stockholders 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 dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC raised its position in shares of Alphabet by 11.9% in the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after acquiring an additional 11,646 shares during the period. Investment Partners LTD. grew its holdings in shares of Alphabet by 5.8% in the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after buying an additional 410 shares during the period. Apexium Financial LP increased its position in shares of Alphabet by 335.9% in the 4th quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock valued at $7,586,000 after buying an additional 41,476 shares in the last quarter. Oak Ridge Investments LLC raised its stake in Alphabet by 4.6% during the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after buying an additional 8,201 shares during the period. Finally, EFG Asset Management Americas Corp. lifted its holdings in Alphabet by 9.7% during the fourth quarter. EFG Asset Management Americas Corp. now owns 116,905 shares of the information services provider’s stock worth $16,475,000 after acquiring an additional 10,359 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on GOOG shares. Oppenheimer boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $182.86.

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.