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 business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the transaction, the chief executive officer now owns 2,129,306 shares in the company, valued at $355,743,153.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, September 18th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00.
• On Wednesday, September 4th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00.
• On Wednesday, August 21st, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00.
• 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 value 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.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $167.21 on Friday. The firm’s 50 day simple moving average is $163.53 and its 200 day simple moving average is $168.49. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping 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 company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period last year, the business posted $1.44 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Institutional Investors Weigh In On Alphabet

Large investors have recently modified their holdings of the business. Duncan Williams Asset Management LLC grew its position in shares of Alphabet by 15.6% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 2,103 shares of the information services provider’s stock valued at $352,000 after purchasing an additional 284 shares during the period. Abacus Wealth Partners LLC lifted its stake in Alphabet by 2.8% in the third quarter. Abacus Wealth Partners LLC now owns 5,029 shares of the information services provider’s stock valued at $841,000 after buying an additional 137 shares in the last quarter. Granite Bay Wealth Management LLC lifted its stake in Alphabet by 16.4% in the third quarter. Granite Bay Wealth Management LLC now owns 33,268 shares of the information services provider’s stock valued at $5,562,000 after buying an additional 4,683 shares in the last quarter. Apella Capital LLC boosted its holdings in shares of Alphabet by 53.5% in the third quarter. Apella Capital LLC now owns 6,664 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 2,324 shares during the period. Finally, Delta Financial Group Inc. boosted its holdings in shares of Alphabet by 0.6% in the third quarter. Delta Financial Group Inc. now owns 27,708 shares of the information services provider’s stock valued at $4,632,000 after buying an additional 158 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on GOOG shares. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Oppenheimer lowered their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Pivotal Research started coverage on Alphabet in a research report on Tuesday. They issued a “buy” rating and a $215.00 price objective for the company. Finally, Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $183.75.

Alphabet Company Profile

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.