Insider Selling: Alphabet (NASDAQ:GOOG) CEO Sells 32,500 Shares of Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the completion of the sale, the chief executive officer directly owned 2,304,619 shares of the company’s stock, valued at $683,642,180.16. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, November 5th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00.
• 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 value of $8,129,875.00.
• On Wednesday, October 1st, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $243.41, for a total value 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 value of $8,108,750.00.
• On Wednesday, September 3rd, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00.

Alphabet Stock Performance

Shares of Alphabet stock traded up $9.67 during trading hours on Friday, hitting $299.65. 43,534,785 shares of the company were exchanged, compared to its average volume of 23,614,018. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $262.98 and a 200-day moving average of $213.90. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $306.89. The stock has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $2.12 EPS. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of analyst reports. Rosenblatt Securities set a $279.00 target price on Alphabet in a research note on Thursday, October 30th. Oppenheimer increased their price objective on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Jefferies Financial Group boosted their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Raymond James Financial set a $275.00 price target on shares of Alphabet and gave the company an “outperform” rating in a report on Friday, October 24th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $324.81.

Institutional Trading of Alphabet

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Alphabet by 1.3% during the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after acquiring an additional 5,182,111 shares during the last quarter. State Street Corp increased its stake in shares of Alphabet by 1.3% during the 2nd quarter. State Street Corp now owns 188,914,125 shares of the information services provider’s stock worth $33,511,477,000 after purchasing an additional 2,428,266 shares in the last quarter. Kingstone Capital Partners Texas LLC raised its position in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Alphabet by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after purchasing an additional 441,177 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

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.