Alphabet Inc. (NASDAQ:GOOG) CEO Sells $5,992,350.00 in Stock
by Michael Walen · The Markets DailyAlphabet Inc. (NASDAQ:GOOG – Get Free Report) CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Sundar Pichai also recently made the following trade(s):
- On Wednesday, July 2nd, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00.
- On Wednesday, June 18th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00.
- On Wednesday, June 4th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00.
- On Wednesday, May 21st, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00.
- On Wednesday, May 7th, Sundar Pichai sold 32,500 shares of Alphabet stock. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00.
Alphabet Trading Up 0.5%
Shares of NASDAQ GOOG opened at $184.70 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.24 trillion, a PE ratio of 20.59, a PEG ratio of 1.28 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The stock has a fifty day simple moving average of $173.39 and a 200-day simple moving average of $174.75.
Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.45%. Alphabet’s payout ratio is 9.36%.
Institutional Trading of Alphabet
A number of large investors have recently modified their holdings of the stock. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter worth approximately $26,000. LSV Asset Management purchased a new position in Alphabet in the fourth quarter worth approximately $27,000. Robbins Farley lifted its stake in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in Alphabet during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on GOOG shares. Citigroup reissued a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Rosenblatt Securities raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Cowen reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.40.
View Our Latest Stock Report on GOOG
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.
Featured Stories
- Five stocks we like better than Alphabet
- How to invest in marijuana stocks in 7 steps
- The Utilities Sector Is Heating Up—Don’t Miss the Breakout
- The Most Important Warren Buffett Stock for Investors: His Own
- How Goldman Sachs Earnings Help You Strategize Your Portfolio
- 3 Best Fintech Stocks for a Portfolio Boost
- 3 Catalysts Driving Plug Power’s Turnaround Case