Alphabet (NASDAQ:GOOG) CEO Sells $7,466,225.00 in Stock

Key Points

• Alphabet CEO Sundar Pichai sold 32,500 shares of stock for $7.47 million on September 3rd, reducing his ownership by 1.32%.
• The company reported a 13.8% increase in revenue year-over-year, reaching $96.43 billion for the recent quarter, with an EPS of $2.31, exceeding estimates.
• Alphabet declared a quarterly dividend of $0.21 per share, with a payout ratio of 8.95%, to be paid to stockholders on September 15th.

Alphabet Inc. (NASDAQ:GOOG - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, August 20th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00.
• On Wednesday, August 6th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00.
• On Wednesday, July 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was 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 shares were 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 value of $5,742,100.00.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded up $2.51 on Friday, hitting $235.17. The company had a trading volume of 26,091,032 shares, compared to its average volume of 24,047,625. The stock has a market cap of $2.84 trillion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 1.55 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $236.13. The stock has a 50 day moving average price of $195.51 and a 200 day moving average price of $176.55.

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, beating analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Cowen reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Pivotal Research boosted their price target on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Raymond James Financial reissued an "outperform" rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $227.56.

Hedge Funds Weigh In On Alphabet

Several institutional investors have recently added to or reduced their stakes in GOOG. Brighton Jones LLC increased its holdings in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after buying an additional 20,855 shares during the period. Clark Capital Management Group Inc. increased its position in shares of Alphabet by 7.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 12,839 shares of the information services provider's stock worth $2,445,000 after purchasing an additional 894 shares during the last quarter. FWL Investment Management LLC increased its position in shares of Alphabet by 3.1% in the fourth quarter. FWL Investment Management LLC now owns 75,402 shares of the information services provider's stock worth $14,360,000 after purchasing an additional 2,258 shares during the last quarter. Finally, Family Management Corp increased its position in shares of Alphabet by 1.3% in the fourth quarter. Family Management Corp now owns 7,319 shares of the information services provider's stock worth $1,394,000 after purchasing an additional 94 shares during the last quarter. Institutional investors 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.

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