Sundar Pichai Sells 32,500 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• 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 shares were 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 shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00.
• On Wednesday, May 7th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $155.90, for a total transaction of $5,066,750.00.

Alphabet Trading Up 0.7%

Shares of NASDAQ GOOGL traded up $1.37 during midday trading on Friday, hitting $184.95. The stock had a trading volume of 25,499,585 shares, compared to its average volume of 32,066,691. The company has a market capitalization of $2.24 trillion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.28 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $172.26 and a 200 day moving average price of $173.15.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the previous year, the company posted $1.89 EPS. On average, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.45%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is 9.36%.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently made changes to their positions in the company. Guardian Wealth Management Inc. grew its stake in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new position in shares of Alphabet in the first quarter worth $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC grew its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the first quarter worth $39,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. KeyCorp lifted their target price on shares of Alphabet from $195.00 to $215.00 and gave the company an "overweight" rating in a report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley decreased their target price on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Westpark Capital reiterated a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Thursday, May 8th. Finally, Cantor Fitzgerald increased their price target on shares of Alphabet from $171.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $201.68.

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.