Key Points
- Sundar Pichai sold 32,500 Alphabet shares on Dec. 3 at an average price of $319.50 for about $10.38M, leaving him with 2,272,119 shares (a 1.41% reduction, ~ $725.94M value).
- The Dec. 3 sale is part of a pattern of identical block sales — Pichai sold 32,500 shares on multiple dates since Sept. 17 — indicating ongoing, periodic disposals of his holdings.
- Alphabet recently posted an earnings beat (EPS $2.87 vs. $2.29; revenue $102.35B vs. $99.9B) and announced a quarterly dividend of $0.21 ($0.84 annualized, ~0.3% yield), while analysts hold a consensus "Buy" rating with a ~$310.54 target.
Alphabet Inc. (NASDAQ:GOOG - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $319.50, for a total value of $10,383,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,272,119 shares of the company's stock, valued at approximately $725,942,020.50. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Sundar Pichai also recently made the following trade(s):
- On Wednesday, November 19th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $296.64, for a total transaction of $9,640,800.00.
- 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 transaction 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 transaction 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 transaction 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.
Alphabet Trading Up 1.2%
NASDAQ:GOOG opened at $322.09 on Friday. The company has a market cap of $3.89 trillion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a 50 day simple moving average of $276.73 and a two-hundred day simple moving average of $224.86. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $328.67.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same period last year, the business posted $2.12 EPS. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Announces Dividend
The company 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 $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet's dividend payout ratio (DPR) is presently 8.28%.
Hedge Funds Weigh In On Alphabet
Large investors have recently added to or reduced their stakes in the company. RDA Financial Network grew its stake in Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock valued at $1,968,000 after purchasing an additional 554 shares during the last quarter. Bleakley Financial Group LLC raised its stake in shares of Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider's stock worth $30,160,000 after purchasing an additional 2,304 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Alphabet by 3.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,164,341 shares of the information services provider's stock worth $206,542,000 after purchasing an additional 42,028 shares during the period. Oldfather Financial Services LLC purchased a new stake in Alphabet in the second quarter valued at approximately $213,000. Finally, Tower View Wealth Management LLC increased its holdings in Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider's stock worth $4,904,000 after buying an additional 1,776 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Analysts Set New Price Targets
A number of research firms have issued reports on GOOG. Phillip Securities upgraded Alphabet from a "moderate buy" rating to a "strong-buy" rating in a research note on Friday, November 7th. Rosenblatt Securities set a $279.00 price objective on shares of Alphabet in a report on Thursday, October 30th. DA Davidson set a $300.00 target price on shares of Alphabet in a report on Tuesday, November 25th. UBS Group reiterated a "neutral" rating on shares of Alphabet in a research report on Thursday, October 30th. Finally, Wolfe Research lifted their price target on shares of Alphabet from $290.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $310.54.
View Our Latest Report on Alphabet
About Alphabet
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
