Key Points
- Sundar Pichai sold 32,500 shares on Nov. 19 at an average price of $296.64 for about $9.64M, trimming his stake by 1.39% to 2,304,619 shares (~$683.6M) after several identical 32,500-share sales since September.
- Alphabet beat expectations last quarter with EPS of $2.87 vs. $2.29 expected and revenue of $102.35 billion vs. $99.90 billion, reflecting strong margins and profitability.
- The stock jumped about 3.5% to $299.66 on heavy volume, the company announced a $0.21 quarterly dividend (0.3% yield), and analysts have lifted price targets to a consensus near $305.33.
Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the completion of the transaction, the chief executive officer owned 2,304,619 shares in the company, valued at approximately $683,642,180.16. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Sundar Pichai also recently made the following trade(s):
- On Wednesday, November 5th, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were 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 stock was 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.
- 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 Trading Up 3.5%
NASDAQ:GOOGL traded up $10.21 during midday trading on Friday, hitting $299.66. The stock had a trading volume of 73,930,774 shares, compared to its average volume of 36,319,234. The stock has a 50-day moving average of $262.39 and a 200 day moving average of $213.06. The company has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a one year low of $140.53 and a one year high of $306.42. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio is 8.28%.
Analyst Ratings Changes
Several research analysts have issued reports on GOOGL shares. Royal Bank Of Canada reiterated a "buy" rating on shares of Alphabet in a report on Thursday, October 30th. The Goldman Sachs Group increased their price objective on shares of Alphabet from $288.00 to $330.00 and gave the company a "buy" rating in a research note on Thursday, October 30th. Moffett Nathanson boosted their price objective on shares of Alphabet from $295.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, October 30th. President Capital upped their target price on Alphabet from $258.00 to $323.00 and gave the stock a "buy" rating in a report on Thursday, November 6th. Finally, Wedbush reiterated an "outperform" rating and issued a $320.00 price target (up from $245.00) on shares of Alphabet in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $305.33.
Read Our Latest Stock Report on GOOGL
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Guardian Wealth Management Inc. grew its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of Alphabet during the second quarter valued at $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC increased its position in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, iSAM Funds UK Ltd purchased a new position in Alphabet in the 3rd quarter worth $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
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.
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