Sundar Pichai Sells 22,500 Shares of Alphabet Inc. (NASDAQ:GOOGL) Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, October 2nd, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00.
• On Wednesday, September 18th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00.
• On Wednesday, September 4th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00.
• On Wednesday, August 21st, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00.
• On Wednesday, August 7th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00.

Alphabet Trading Down 0.2 %

GOOGL traded down $0.30 during trading on Wednesday, reaching $165.16. The company had a trading volume of 15,583,377 shares, compared to its average volume of 27,081,799. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The firm’s 50-day simple moving average is $161.63 and its 200 day simple moving average is $168.07. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the company posted $1.44 EPS. Equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOGL. Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, September 5th. Pivotal Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 1st. Piper Sandler restated an “overweight” rating and set a $200.00 price objective on shares of Alphabet in a research report on Monday, September 30th. Bank of America upped their target price on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Culbertson A N & Co. Inc. raised its stake in Alphabet by 3.9% during the third quarter. Culbertson A N & Co. Inc. now owns 32,560 shares of the information services provider’s stock worth $5,400,000 after acquiring an additional 1,215 shares in the last quarter. SPC Financial Inc. increased its holdings in Alphabet by 16.3% in the third quarter. SPC Financial Inc. now owns 13,323 shares of the information services provider’s stock valued at $2,210,000 after purchasing an additional 1,866 shares during the last quarter. B.O.S.S. Retirement Advisors LLC raised its holdings in Alphabet by 18.6% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 74,555 shares of the information services provider’s stock worth $12,365,000 after purchasing an additional 11,670 shares during the period. Market Street Wealth Management Advisors LLC grew its stake in Alphabet by 2.4% in the third quarter. Market Street Wealth Management Advisors LLC now owns 3,818 shares of the information services provider’s stock valued at $633,000 after acquiring an additional 88 shares during the period. Finally, Twelve Points Wealth Management LLC lifted its stake in Alphabet by 5.3% in the third quarter. Twelve Points Wealth Management LLC now owns 6,410 shares of the information services provider’s stock valued at $1,063,000 after buying an additional 320 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.