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

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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.
• On Wednesday, May 7th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00.
• On Wednesday, April 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00.

Alphabet Trading Up 0.2%

Alphabet stock traded up $0.44 during midday trading on Friday, hitting $179.08. 21,689,729 shares of the stock were exchanged, compared to its average volume of 31,590,492. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00. The stock's 50-day simple moving average is $168.70 and its 200 day simple moving average is $173.77. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

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

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. Alphabet's dividend payout ratio is currently 9.36%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. FMR LLC increased its position in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares during the period. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter worth $24,383,677,000. Price T Rowe Associates Inc. MD increased its position in shares of Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares during the period. Finally, Capital Research Global Investors increased its position in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. JMP Securities upgraded shares of Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price objective for the company in a research note on Friday, June 27th. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company boosted their target price on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $199.95.

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.