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

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 value of $3,973,050.00.
• On Wednesday, May 15th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00.
• On Wednesday, May 1st, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00.
• On Wednesday, April 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00.
• On Wednesday, April 3rd, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00.

Alphabet Trading Down 0.1 %

Shares of NASDAQ:GOOGL opened at $183.88 on Thursday. The stock has a market capitalization of $2.27 trillion, a PE ratio of 28.22, a P/E/G ratio of 1.38 and a beta of 1.01. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $184.51. The firm has a fifty day moving average price of $171.13 and a 200 day moving average price of $153.36. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the prior year, the company posted $1.17 earnings per share. Analysts expect that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOGL. Canaccord Genuity Group upped their target price on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Tigress Financial upped their price target on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, May 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $195.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Bank of America reaffirmed a “buy” rating and issued a $200.00 price target on shares of Alphabet in a report on Tuesday, June 11th. Finally, Loop Capital upped their price target on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.69.

Institutional Investors Weigh In On Alphabet

Hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter valued at about $15,441,917,000. FMR LLC raised its position in shares of Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. Capital Research Global Investors raised its position in shares of Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after buying an additional 6,374,756 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in shares of Alphabet by 39,754.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after buying an additional 6,010,548 shares during the last quarter. 40.03% of the stock is currently 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.