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

Key Points

• Sundar Pichai, CEO of Alphabet, sold 32,500 shares of the company's stock for a total of $7.47 million, reducing his stake by 1.32% to approximately 2.43 million shares.
• Alphabet announced a quarterly dividend of $0.21 per share, with the payment scheduled for September 15, indicating a 0.4% yield based on the current share price.
• The company reported a Q2 revenue of $96.43 billion, surpassing estimates and reflecting a strong financial performance with $2.31 EPS, above the consensus of $2.15.

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 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.
• 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 transaction of $5,742,100.00.

Alphabet Stock Up 1.2%

GOOGL traded up $2.70 during midday trading on Friday, hitting $235.00. The company had a trading volume of 46,562,292 shares, compared to its average volume of 36,814,867. The stock's 50 day moving average price is $194.66 and its 200 day moving average price is $175.13. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $235.76. The company has a market capitalization of $2.84 trillion, a price-to-earnings ratio of 25.03, a PEG ratio of 1.55 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - 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 $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Analyst Ratings Changes

Several research firms have weighed in on GOOGL. Citigroup restated an "outperform" rating on shares of Alphabet in a report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday. Susquehanna raised their target price on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Tigress Financial boosted their target price on Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a research report on Friday. Finally, UBS Group raised their price target on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $222.33.

Institutional Investors Weigh In On Alphabet

Hedge funds have recently modified their holdings of the business. Beddow Capital Management Inc. raised its holdings in Alphabet by 2.0% in the second quarter. Beddow Capital Management Inc. now owns 2,510 shares of the information services provider's stock valued at $445,000 after buying an additional 50 shares during the period. Gimbal Financial lifted its stake in shares of Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider's stock worth $489,000 after acquiring an additional 53 shares in the last quarter. Missouri Trust & Investment Co boosted its holdings in Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock valued at $2,981,000 after purchasing an additional 55 shares during the last quarter. Silver Coast Investments LLC grew its holdings in Alphabet by 1.3% during the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider's stock worth $761,000 after acquiring an additional 55 shares in the last quarter. Finally, North Berkeley Wealth Management LLC increased its holdings in Alphabet by 1.3% in the second quarter. North Berkeley Wealth Management LLC now owns 4,200 shares of the information services provider's stock valued at $740,000 after buying an additional 55 shares during the last quarter. Institutional investors own 40.03% 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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