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

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,685,196 shares of the company’s stock, valued at approximately $419,320,207.36. This represents a 1.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sundar Pichai also recently made the following trade(s):

• On Wednesday, April 2nd, Sundar Pichai sold 32,500 shares of Alphabet stock. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00.

Alphabet Trading Down 1.5 %

Alphabet stock traded down $2.25 during midday trading on Friday, reaching $151.08. The stock had a trading volume of 32,930,996 shares, compared to its average volume of 28,296,298. The firm’s fifty day simple moving average is $165.82 and its two-hundred day simple moving average is $175.88. The firm has a market cap of $1.84 trillion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a research report on Thursday, February 6th. KeyCorp dropped their target price on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company dropped their target price on Alphabet from $184.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Monday, March 31st. Finally, Truist Financial reduced their price target on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday. Ten investment 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $200.74.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bennett Selby Investments LP boosted its stake in Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after acquiring an additional 52 shares during the last quarter. Macroview Investment Management LLC grew its holdings in shares of Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after buying an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. raised its stake in Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after buying an additional 53 shares during the period. Cornerstone Planning Group LLC lifted its holdings in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after acquiring an additional 53 shares in the last quarter. Finally, Addison Advisors LLC increased its holdings in shares of Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Company Profile

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.