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

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the transaction, the chief executive officer now directly owns 2,620,196 shares in the company, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, May 7th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $155.90, for a total transaction of $5,066,750.00.
• On Wednesday, April 16th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00.
• On Wednesday, April 2nd, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded down $2.40 during mid-day trading on Friday, reaching $168.47. The company had a trading volume of 35,166,008 shares, compared to its average volume of 29,660,523. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.34 and a beta of 1.01. The company's 50-day moving average price is $158.42 and its 200-day moving average price is $174.89. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period last year, the business posted $1.89 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.50%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

Institutional Investors Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Regent Peak Wealth Advisors LLC lifted its holdings in Alphabet by 0.9% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 23,533 shares of the information services provider's stock worth $4,455,000 after purchasing an additional 207 shares in the last quarter. Wealth Group Ltd. grew its holdings in Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after buying an additional 78 shares in the last quarter. Capital & Planning LLC increased its position in shares of Alphabet by 34.3% during the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock valued at $830,000 after buying an additional 1,119 shares during the period. Finally, Joule Financial LLC lifted its holdings in shares of Alphabet by 22.5% in the fourth quarter. Joule Financial LLC now owns 13,028 shares of the information services provider's stock worth $2,466,000 after buying an additional 2,392 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial cut their price target on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Piper Sandler upped their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Needham & Company LLC reissued a "buy" rating and issued a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. UBS Group set a $195.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, Oppenheimer raised their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average target price of $199.75.

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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