Alphabet Inc. (NASDAQ:GOOG) CEO Sells $3,975,075.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, November 6th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00.
• On Wednesday, October 16th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00.
• On Wednesday, October 2nd, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00.
• On Wednesday, September 18th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were 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 stock was sold at an average price of $158.68, for a total value of $3,570,300.00.

Alphabet Trading Down 4.4 %

NASDAQ GOOG traded down $7.84 during mid-day trading on Thursday, hitting $169.49. The company’s stock had a trading volume of 31,830,611 shares, compared to its average volume of 19,627,037. The stock’s fifty day simple moving average is $168.65 and its two-hundred day simple moving average is $171.91. The firm has a market capitalization of $2.07 trillion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.26 and a beta of 1.04. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GOOG shares. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Pivotal Research boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Institutional Trading of Alphabet

A number of institutional investors and hedge funds have recently made changes to their positions in GOOG. Weiss Asset Management LP bought a new position in shares of Alphabet during the 3rd quarter worth about $25,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the period. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the third quarter valued at about $33,000. 1620 Investment Advisors Inc. bought a new stake in Alphabet during the 2nd quarter worth approximately $37,000. Finally, HWG Holdings LP acquired a new stake in shares of Alphabet in the second quarter valued at $40,000. Institutional investors and hedge funds own 27.26% 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.