Key Points
- Sundar Pichai sold 32,500 Alphabet shares on Dec. 3 at an average price of $319.50 for about $10.38 million, leaving him with 2,272,119 shares (a 1.41% reduction in his stake).
- The Dec. 3 sale continues a pattern of periodic disposals — Pichai sold identical 32,500‑share blocks on Sep. 17, Oct. 1, Oct. 15, Nov. 5 and Nov. 19 at progressively higher prices.
- Alphabet announced a quarterly dividend of $0.21 per share (annualized $0.84), payable Dec. 15, which implies a yield of about 0.3%.
Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, December 3rd. The shares were 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 in the company, valued at $725,942,020.50. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $296.64, for a total value of $9,640,800.00.
- 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 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 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 shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00.
Alphabet Stock Performance
Shares of GOOGL opened at $321.27 on Friday. The company has a market capitalization of $3.88 trillion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83. The company's fifty day moving average price is $276.15 and its 200 day moving average price is $224.09.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. As a group, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued 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 (DPR) is 8.28%.
Institutional Trading of Alphabet
Institutional investors have recently made changes to their positions in the business. Saranac Partners Ltd purchased a new position in Alphabet during the 3rd quarter worth approximately $10,009,000. Strategic Investment Solutions Inc. IL grew its holdings in shares of Alphabet by 2.9% during the third quarter. Strategic Investment Solutions Inc. IL now owns 2,028 shares of the information services provider's stock valued at $493,000 after buying an additional 58 shares in the last quarter. Severin Investments LLC raised its position in Alphabet by 41.1% during the third quarter. Severin Investments LLC now owns 4,519 shares of the information services provider's stock valued at $1,098,000 after buying an additional 1,316 shares during the period. Allworth Financial LP lifted its stake in Alphabet by 1.7% in the 3rd quarter. Allworth Financial LP now owns 269,379 shares of the information services provider's stock worth $65,486,000 after acquiring an additional 4,613 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in Alphabet by 5.3% during the 3rd quarter. IFP Advisors Inc now owns 128,858 shares of the information services provider's stock worth $31,330,000 after acquiring an additional 6,444 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on GOOGL shares. Wells Fargo & Company upped their price target on Alphabet from $236.00 to $268.00 and gave the stock an "equal weight" rating in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $300.00 to $340.00 and gave the stock an "overweight" rating in a research report on Thursday, October 30th. Guggenheim reiterated a "buy" rating and set a $375.00 target price (up from $330.00) on shares of Alphabet in a research note on Monday. Wedbush restated an "outperform" rating and issued a $320.00 price target (up from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group boosted their price objective on shares of Alphabet from $270.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $312.65.
Read Our Latest Stock Report on GOOGL
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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