Alphabet (NASDAQ:GOOG) CEO Sells $9,213,100.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the sale, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, October 15th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00.
• 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 transaction 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 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.

Alphabet Trading Down 2.0%

Shares of GOOG stock traded down $5.64 during trading hours on Friday, reaching $279.70. The company had a trading volume of 21,930,713 shares, compared to its average volume of 23,443,854. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $3.38 trillion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a 50 day moving average of $250.48 and a 200 day moving average of $204.23.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the prior year, the company posted $2.12 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GOOG shares. Piper Sandler boosted their price objective on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Morgan Stanley lifted their price target on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Oppenheimer boosted their price target on shares of Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Pivotal Research raised their price objective on Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Robert W. Baird lifted their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Institutional Investors Weigh In On Alphabet

Several institutional investors have recently added to or reduced their stakes in GOOG. RDA Financial Network boosted its holdings in shares of Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares during the last quarter. Bleakley Financial Group LLC raised its position in Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after acquiring an additional 2,304 shares during the period. Oldfather Financial Services LLC purchased a new position in shares of Alphabet during the 2nd quarter worth $213,000. Tower View Wealth Management LLC boosted its stake in shares of Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after acquiring an additional 1,776 shares during the last quarter. Finally, Dock Street Asset Management Inc. grew its position in shares of Alphabet by 0.8% during the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after acquiring an additional 1,970 shares during the period. 27.26% of the stock is owned by institutional investors.

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.