Alphabet (NASDAQ:GOOGL) CEO Sells $7,910,825.00 in Stock

Key Points

• Alphabet CEO Sundar Pichai sold 32,500 shares of stock for approximately $7.91 million on October 1st, reducing his ownership position by 1.33% to about 2.4 million shares.
• The company recently announced a quarterly dividend of $0.21 per share, translating to an annualized yield of 0.3% and a low dividend payout ratio of 8.95%.
• According to analysts, Alphabet's stock has a consensus rating of "Moderate Buy" with a price target around $240.76, following various upgrades from different research companies.

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the stock in a transaction 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. This represents a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 stock was sold at an average price of $229.73, for a total transaction 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 transaction 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 transaction 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.

Alphabet Stock Performance

NASDAQ GOOGL traded up $0.79 during trading hours on Thursday, hitting $245.69. 25,433,124 shares of the company's stock traded hands, compared to its average volume of 35,513,240. The business's fifty day moving average price is $219.14 and its two-hundred day moving average price is $184.66. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.97 trillion, a P/E ratio of 26.17, a P/E/G ratio of 1.65 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Guardian Wealth Management Inc. grew its position in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of Alphabet during the second quarter worth about $31,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the first quarter worth about $28,000. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the first quarter worth about $28,000. Finally, NBZ Investment Advisors LLC grew its position in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Westpark Capital increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Loop Capital reaffirmed a "hold" rating and issued a $190.00 price objective (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Melius Research increased their price target on shares of Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Jefferies Financial Group increased their price target on shares of Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Oppenheimer reiterated an "outperform" rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $240.76.

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.

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