Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai Sells 32,500 Shares of Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Alphabet Trading Down 3.4 %

Shares of NASDAQ:GOOGL opened at $145.60 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50-day moving average is $175.15 and its 200-day moving average is $176.81. The company has a market cap of $1.77 trillion, a P/E ratio of 18.09, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52-week low of $145.38 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GOOGL. Rosenblatt Securities restated a “neutral” rating and set a $205.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Robert W. Baird restated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. DA Davidson upped their target price on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Wedbush lifted their price target on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Finally, KeyCorp reduced their price objective on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $209.13.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Community Bank N.A. boosted its stake in Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after buying an additional 2,790 shares in the last quarter. Absolute Capital Management LLC boosted its position in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after acquiring an additional 258 shares in the last quarter. Permanent Capital Management LP bought a new stake in Alphabet in the fourth quarter valued at about $273,000. Glass Wealth Management Co LLC raised its position in Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after purchasing an additional 1,580 shares in the last quarter. Finally, Olistico Wealth LLC lifted its stake in Alphabet by 9.1% during the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after purchasing an additional 746 shares during the period. Institutional investors own 40.03% of the company’s stock.

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.