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

Key Points

• Alphabet CEO Sundar Pichai sold 32,500 shares of the company's stock on October 1st for approximately $7.91 million, reducing his ownership by 1.33% to around 2.4 million shares valued at about $584.7 million.
• Alphabet's stock is currently trading at $246.43 with a market capitalization of $2.98 trillion and a strong quarterly earnings report showing revenue growth of 13.8% year-over-year.
• The company recently declared a quarterly dividend of $0.21 per share, resulting in an annualized dividend yield of 0.3% and a payout ratio of 8.95%.

Alphabet Inc. (NASDAQ:GOOG - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the transaction, the chief executive officer directly owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, September 17th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00.
• On Wednesday, September 3rd, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00.
• 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 value of $6,497,400.00.
• On Wednesday, August 6th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was 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 value of $5,992,350.00.

Alphabet Stock Performance

GOOG stock traded up $0.89 during midday trading on Thursday, hitting $246.43. The stock had a trading volume of 20,629,903 shares, compared to its average volume of 22,802,248. The firm has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The stock has a 50-day simple moving average of $219.78 and a 200 day simple moving average of $185.88. 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 (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the company earned $1.89 EPS. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently made changes to their positions in GOOG. IFS Advisors LLC increased its position in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock valued at $27,000 after acquiring an additional 120 shares during the period. Robbins Farley boosted its stake in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. Principia Wealth Advisory LLC increased its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after buying an additional 85 shares during the period. WestEnd Advisors LLC increased its position in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after buying an additional 61 shares during the period. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $26,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GOOG shares. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Pivotal Research increased their target price on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Barclays reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 price target on shares of Alphabet in a research note on Wednesday, September 3rd. Finally, Jefferies Financial Group raised their price target on shares of Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $235.33.

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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