Insider Selling: Alphabet Inc. (NASDAQ:GOOGL) CEO Sells $3,753,000.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, April 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00.
• On Wednesday, April 3rd, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00.
• On Wednesday, March 20th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00.
• On Wednesday, March 6th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00.
• On Wednesday, February 21st, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $143.08, for a total transaction of $3,219,300.00.
• On Wednesday, February 7th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00.

Alphabet Stock Performance

Shares of GOOGL stock opened at $167.24 on Friday. The company’s fifty day simple moving average is $149.67 and its 200-day simple moving average is $142.12. Alphabet Inc. has a 52 week low of $103.97 and a 52 week high of $174.71. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.08 trillion, a PE ratio of 25.65, a P/E/G ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter last year, the firm posted $1.17 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th 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, June 10th.

Analysts Set New Price Targets

A number of brokerages have recently commented on GOOGL. Morgan Stanley upped their target price on shares of Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Redburn Atlantic upped their target price on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Wells Fargo & Company upped their target price on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Raymond James upped their target price on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, UBS Group upped their target price on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $190.60.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently made changes to their positions in GOOGL. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet during the 4th quarter valued at $30,000. Tributary Capital Management LLC acquired a new stake in Alphabet during the 1st quarter valued at $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the 4th quarter valued at $38,000. Meritage Group LP grew its holdings in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC grew its holdings in Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.