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

Key Points

• Alphabet Inc. CEO Sundar Pichai sold 32,500 shares of stock on August 6th at an average price of $196.23, totaling approximately $6.38 million, resulting in a 1.29% decrease in his ownership.
• The company reported a strong earnings performance with an EPS of $2.31, surpassing analysts' expectations of $2.15, on revenue of $96.43 billion.
• Alphabet declared a quarterly dividend of $0.21 per share, payable on September 15th, reflecting a 0.4% yield and an 8.95% payout ratio.

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the sale, the chief executive officer directly owned 2,494,892 shares in the company, valued at $489,572,657.16. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Wednesday, July 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were 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 shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00.
• On Wednesday, June 4th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00.
• On Wednesday, May 21st, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00.

Alphabet Trading Up 0.2%

NASDAQ GOOGL traded up $0.43 on Thursday, hitting $196.52. 26,014,319 shares of the stock were exchanged, compared to its average volume of 36,916,484. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a fifty day moving average price of $179.76 and a two-hundred day moving average price of $173.12. The firm has a market capitalization of $2.38 trillion, a P/E ratio of 20.93, a P/E/G ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Institutional Trading of Alphabet

A number of large investors have recently made changes to their positions in the stock. Mystic Asset Management Inc. raised its holdings in shares of Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co raised its holdings in shares of Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after acquiring an additional 80 shares in the last quarter. Rockbridge Capital Management LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at about $3,119,000. Cypress Capital LLC grew its position in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares during the last quarter. Finally, Optivise Advisory Services LLC grew its position in shares of Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after buying an additional 403 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOGL. Truist Financial reiterated a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. Barclays increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. JMP Securities increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. BMO Capital Markets increased their price objective on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Susquehanna increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $211.53.

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.