Insider Selling: Alphabet Inc. (NASDAQ:GOOG) CEO Sells $3,975,075.00 in Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, November 6th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00.
• On Wednesday, October 16th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00.
• On Wednesday, October 2nd, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $167.07, for a total transaction of $3,759,075.00.
• On Wednesday, September 18th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00.
• On Wednesday, September 4th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00.

Alphabet Stock Down 1.6 %

Shares of GOOG opened at $166.57 on Friday. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 22.09, a P/E/G ratio of 1.18 and a beta of 1.04. The company has a 50-day simple moving average of $169.10 and a 200-day simple moving average of $171.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $1.55 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Hedge Funds Weigh In On Alphabet

Hedge funds have recently made changes to their positions in the business. Weiss Asset Management LP acquired a new position in Alphabet in the third quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $33,000. Abich Financial Wealth Management LLC raised its holdings in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet during the 2nd quarter worth approximately $37,000. Finally, HWG Holdings LP acquired a new stake in Alphabet in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on GOOG shares. Scotiabank started coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Pivotal Research increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Company Profile

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.