Alphabet (NASDAQ:GOOGL) CEO Sells $8,129,875.00 in Stock

Key Points

• Alphabet CEO Sundar Pichai sold 32,500 shares of the company stock for a total value of $8,129,875, reducing his ownership by 1.35%.
• Alphabet's stock has a current market capitalization of $3.06 trillion and recently traded up 0.7% to $253.30.
• The company reported a beat in EPS during its last earnings, with $2.31 per share compared to estimates of $2.15, alongside a revenue of $96.43 billion.

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares of the company's stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, October 1st, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00.
• 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 value 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 shares were sold at an average price of $196.23, for a total value of $6,377,475.00.

Alphabet Trading Up 0.7%

Alphabet stock traded up $1.84 during trading on Friday, hitting $253.30. The company's stock had a trading volume of 29,582,897 shares, compared to its average volume of 29,170,138. The stock has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 1.70 and a beta of 1.00. The stock's fifty day moving average is $231.55 and its 200 day moving average is $191.61. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, 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. Investors of record on Monday, September 8th were paid a $0.21 dividend. 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%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Guggenheim restated a "buy" rating and set a $280.00 price target (up from $210.00) on shares of Alphabet in a research note on Friday. Wedbush upped their price target on Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 3rd. Morgan Stanley set a $270.00 price target on Alphabet and gave the stock an "overweight" rating in a research note on Thursday, October 2nd. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Finally, Cantor Fitzgerald upped their price target on Alphabet from $201.00 to $265.00 and gave the stock a "neutral" rating in a research note on Monday. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $252.24.

Institutional Investors Weigh In On Alphabet

Several institutional investors and hedge funds have recently modified their holdings of the stock. Guardian Wealth Management Inc. boosted its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new position in Alphabet during the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new position in Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC lifted its holdings in Alphabet by 85.7% during the 1st 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 during the last quarter. Finally, Financial Gravity Companies Inc. bought a new position in Alphabet during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

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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