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

Key Points

• Alphabet Inc. CEO Sundar Pichai sold 32,500 shares on August 6 at an average price of $196.23, totaling approximately $6.38 million, reducing his ownership by 1.29%.
• The company reported strong quarterly earnings with $2.31 earnings per share, exceeding analysts' estimates, alongside a revenue of $96.43 billion, up 13.8% year-over-year.
• Alphabet announced a quarterly dividend of $0.21 per share, to be paid on September 15, representing a 0.4% yield and a payout ratio of 8.95%.

Alphabet Inc. (NASDAQ:GOOG - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, July 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00.
• On Wednesday, July 2nd, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00.
• On Wednesday, June 18th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00.
• On Wednesday, June 4th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00.
• On Wednesday, May 21st, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $170.87, for a total transaction of $5,553,275.00.

Alphabet Price Performance

NASDAQ GOOG traded up $0.36 during mid-day trading on Thursday, hitting $197.28. The stock had a trading volume of 14,292,926 shares, compared to its average volume of 24,162,768. The firm's 50 day moving average is $180.79 and its 200 day moving average is $174.68. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.30 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. The company's quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Scotiabank upped their price objective on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Roth Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Westpark Capital restated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $215.19.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC raised its holdings in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after buying an additional 135,064,454 shares during the period. JPMorgan Chase & Co. raised its holdings in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the period. Capital International Investors raised its holdings in Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after buying an additional 5,758,244 shares during the period. Finally, Northern Trust Corp raised its holdings in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after buying an additional 7,917,625 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

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.