Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai Sells 22,500 Shares

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $177.36, for a total transaction 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 transaction 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.

Alphabet Stock Down 1.2 %

Shares of GOOG traded down $1.96 during mid-day trading on Friday, hitting $167.28. 7,183,277 shares of the company’s stock were exchanged, compared to its average volume of 19,574,074. The company has a 50-day simple moving average of $168.93 and a 200 day simple moving average of $171.90. 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 Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. The company has a market cap of $2.05 trillion, a PE ratio of 22.10, a P/E/G ratio of 1.26 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for 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 for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is presently 10.61%.

Analysts Set New Price Targets

GOOG has been the topic of several research reports. Jefferies Financial Group boosted their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently bought and sold shares of the business. Twelve Points Wealth Management LLC increased its holdings in shares of Alphabet by 0.7% during the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after purchasing an additional 55 shares during the period. PCG Wealth Advisors LLC raised its holdings in Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after buying an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV boosted its position in Alphabet by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after buying an additional 57 shares during the period. Advisors Management Group Inc. ADV grew its holdings in Alphabet by 2.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after acquiring an additional 58 shares during the last quarter. Finally, Shira Ridge Wealth Management increased its position in Alphabet by 0.4% in the 2nd quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after acquiring an additional 60 shares during the period. 27.26% of the stock is owned by institutional investors.

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.