Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai Sells 22,500 Shares

Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares of the company's stock, valued at approximately $362,126,319.10. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, August 7th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00.
• On Wednesday, July 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00.
• On Thursday, June 20th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00.
• On Wednesday, June 5th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00.

Alphabet Stock Down 0.8 %

Shares of Alphabet stock traded down $1.33 on Wednesday, reaching $165.85. The stock had a trading volume of 22,881,674 shares, compared to its average volume of 28,084,686. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 25.44, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a 50 day moving average price of $175.18 and a 200 day moving average price of $162.89. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the company earned $1.44 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet's dividend payout ratio (DPR) is presently 12.27%.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently added to or reduced their stakes in the business. Tennessee Valley Asset Management Partners acquired a new stake in shares of Alphabet during the fourth quarter worth about $100,000. Waldron Private Wealth LLC boosted its holdings in shares of Alphabet by 4.5% in the 4th quarter. Waldron Private Wealth LLC now owns 81,418 shares of the information services provider's stock valued at $11,373,000 after acquiring an additional 3,516 shares during the last quarter. Cornercap Investment Counsel Inc. increased its stake in shares of Alphabet by 2.0% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 37,631 shares of the information services provider's stock worth $5,257,000 after acquiring an additional 753 shares during the period. Cullen Investment Group LTD. purchased a new position in shares of Alphabet during the fourth quarter worth $2,246,000. Finally, Dakota Wealth Management lifted its position in Alphabet by 11.1% during the fourth quarter. Dakota Wealth Management now owns 258,546 shares of the information services provider's stock valued at $36,116,000 after purchasing an additional 25,808 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Wednesday, August 14th. Jefferies Financial Group upped their target price on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Canaccord Genuity Group increased their price target on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, April 26th. Evercore ISI boosted their price objective on Alphabet from $220.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday, June 11th. Finally, Mizuho increased their target price on Alphabet from $205.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $203.74.

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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