Alphabet Inc. (NASDAQ:GOOG - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Alphabet Stock Performance
Shares of Alphabet stock traded down $2.66 during trading hours on Tuesday, reaching $146.58. The company's stock had a trading volume of 35,223,978 shares, compared to its average volume of 19,217,726. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company's 50 day simple moving average is $174.13 and its 200 day simple moving average is $178.10. The stock has a market cap of $1.79 trillion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.55%. Alphabet's dividend payout ratio is currently 9.94%.
Institutional Investors Weigh In On Alphabet
Large investors have recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC boosted its stake in Alphabet by 6.8% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock valued at $3,094,000 after purchasing an additional 1,041 shares during the period. North Forty Two & Co. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $281,000. Coldstream Capital Management Inc. boosted its position in shares of Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider's stock worth $19,642,000 after buying an additional 14,738 shares during the period. Requisite Capital Management LLC bought a new position in Alphabet in the 4th quarter worth approximately $927,000. Finally, Worldquant Millennium Advisors LLC increased its position in Alphabet by 44.2% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,032,476 shares of the information services provider's stock valued at $172,620,000 after acquiring an additional 316,674 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Wedbush reaffirmed an "outperform" rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Benchmark reiterated a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley restated an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $208.65.
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About Alphabet
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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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