Key Points
- Sundar Pichai sold 32,500 Alphabet shares on November 19 at an average price of $296.64 for about $9.64 million, leaving him with 2,304,619 shares (a 1.39% reduction in his stake).
- The November 19 sale is part of a string of identical 32,500-share dispositions since September 3, totaling 195,000 shares sold for roughly $50.5 million.
- Alphabet shares traded up about 3.3% to $299.65; the company recently beat earnings expectations (EPS $2.87 vs. $2.29) and declared a $0.21 quarterly dividend (ex-dividend date Dec 8, payable Dec 15).
Alphabet Inc. (NASDAQ:GOOG - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,304,619 shares in the company, valued at $683,642,180.16. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was 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 transaction 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 transaction of $7,466,225.00.
Alphabet Stock Up 3.3%
NASDAQ GOOG traded up $9.67 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 market cap of $3.62 trillion, a PE ratio of 29.55, a PEG 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 $306.89. The stock has a fifty day moving average of $262.98 and a 200-day moving average of $213.90. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the previous year, the firm posted $2.12 earnings per share. The business's revenue was up 15.9% compared to the same quarter last year. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet's dividend payout ratio is 8.28%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Oppenheimer raised their price objective on Alphabet from $300.00 to $345.00 and gave the company an "outperform" rating in a research note on Thursday, October 30th. Hsbc Global Res upgraded Alphabet to a "strong-buy" rating in a report on Tuesday, October 7th. Wolfe Research lifted their price target on shares of Alphabet from $290.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, October 30th. Rosenblatt Securities set a $279.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Finally, Morgan Stanley raised their price objective on shares of Alphabet from $210.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, October 2nd. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $324.81.
View Our Latest Stock Report on Alphabet
Institutional Investors Weigh In On Alphabet
A number of institutional investors and hedge funds have recently bought and sold shares of GOOG. Brighton Jones LLC increased its stake in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after buying an additional 6,410 shares during the last quarter. GW&K Investment Management LLC grew its holdings in shares of Alphabet by 3.9% in the first quarter. GW&K Investment Management LLC now owns 4,169 shares of the information services provider's stock valued at $651,000 after acquiring an additional 156 shares in the last quarter. Wakefield Asset Management LLLP bought a new position in shares of Alphabet in the first quarter valued at approximately $522,000. Burney Co. lifted its holdings in Alphabet by 11.4% during the first quarter. Burney Co. now owns 13,414 shares of the information services provider's stock worth $2,096,000 after acquiring an additional 1,374 shares during the period. Finally, Noesis Capital Mangement Corp boosted its position in Alphabet by 1.2% in the first quarter. Noesis Capital Mangement Corp now owns 181,534 shares of the information services provider's stock worth $28,361,000 after purchasing an additional 2,073 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Alphabet Company Profile
(
Get Free Report)
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.
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