Sundar Pichai Sells 32,500 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

Alphabet Inc. (NASDAQ:GOOGGet Free Report) CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the sale, the chief executive officer now directly owns 2,555,196 shares in the company, valued at $451,452,029.28. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

  • On Wednesday, June 4th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00.
  • On Wednesday, May 21st, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00.
  • On Wednesday, May 7th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00.
  • On Wednesday, April 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00.
  • On Wednesday, April 2nd, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00.

Alphabet Price Performance

Shares of GOOG opened at $167.73 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The firm has a 50-day simple moving average of $166.31 and a 200-day simple moving average of $176.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Analysts Set New Price Targets

GOOG has been the topic of several recent analyst reports. Citigroup reissued a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $204.88.

View Our Latest Stock Analysis on GOOG

Institutional Investors Weigh In On Alphabet

Hedge funds have recently added to or reduced their stakes in the company. ARQ Wealth Advisors LLC lifted its position in Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after purchasing an additional 1,400 shares during the period. Independence Bank of Kentucky lifted its position in Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after purchasing an additional 1,376 shares during the period. Harvest Investment Services LLC lifted its position in Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock valued at $824,000 after purchasing an additional 138 shares during the period. North Forty Two & Co. acquired a new stake in Alphabet in the fourth quarter valued at about $281,000. Finally, Fermata Advisors LLC lifted its position in Alphabet by 2.7% in the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after purchasing an additional 259 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

About Alphabet

(Get Free Report)

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.

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

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