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 owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. The trade was a 1.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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 stock was 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 value of $6,497,400.00.

Alphabet Trading Down 2.0%

NASDAQ:GOOG opened at $279.70 on Monday. The business’s 50-day moving average is $251.81 and its two-hundred day moving average is $205.83. The firm has a market capitalization of $3.38 trillion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12 month low of $142.66 and a 12 month 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.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.12 earnings per share. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date 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 (DPR) is currently 8.28%.

Institutional Trading of Alphabet

Several institutional investors and hedge funds have recently bought and sold shares of the company. RDA Financial Network increased its stake in Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after acquiring an additional 554 shares during the period. Bleakley Financial Group LLC grew its holdings in shares of Alphabet by 1.4% during the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after purchasing an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC bought a new position in shares of Alphabet in the second quarter worth $213,000. Tower View Wealth Management LLC raised its stake in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after purchasing an additional 1,776 shares in the last quarter. Finally, Dock Street Asset Management Inc. lifted its position in Alphabet by 0.8% during the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after purchasing an additional 1,970 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GOOG. Scotiabank set a $336.00 target price on shares of Alphabet and gave the company a “sector outperform” rating in a research note on Thursday, October 30th. Morgan Stanley upped their price objective on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. UBS Group restated a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. KeyCorp reiterated an “overweight” rating and issued a $330.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

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.