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

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The transaction 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 20th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00.
• On Wednesday, August 6th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00.
• On Wednesday, July 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00.
• On Wednesday, July 2nd, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00.
• On Wednesday, June 18th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00.

Alphabet Trading Up 1.1%

Shares of NASDAQ GOOG opened at $235.17 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $236.13. The firm has a market capitalization of $2.84 trillion, a PE ratio of 25.04, a PEG ratio of 1.57 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $196.65 and a two-hundred day moving average price of $176.89.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period last year, the company posted $1.89 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Principia Wealth Advisory LLC boosted its holdings in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new stake in Alphabet during the first quarter valued at about $26,000. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares during the period. Robbins Farley boosted its holdings in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. Finally, WestEnd Advisors LLC boosted its holdings in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

GOOG has been the topic of several research reports. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Pivotal Research upped their target price on Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $227.56.

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.