Alphabet Inc. (GOOG) CEO Sundar Pichai Sells 4,000 Shares of Stock

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $1,077.67, for a total value of $4,310,680.00. Following the completion of the transaction, the chief executive officer now directly owns 615 shares of the company’s stock, valued at $662,767.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

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  • On Wednesday, April 4th, Sundar Pichai sold 4,000 shares of Alphabet stock. The shares were sold at an average price of $993.80, for a total value of $3,975,200.00.
  • On Wednesday, March 21st, Sundar Pichai sold 4,000 shares of Alphabet stock. The shares were sold at an average price of $1,092.73, for a total value of $4,370,920.00.
  • On Wednesday, March 7th, Sundar Pichai sold 4,000 shares of Alphabet stock. The shares were sold at an average price of $1,089.48, for a total value of $4,357,920.00.
  • On Wednesday, February 21st, Sundar Pichai sold 4,000 shares of Alphabet stock. The shares were sold at an average price of $1,106.68, for a total value of $4,426,720.00.
  • On Friday, February 9th, Sundar Pichai sold 4,000 shares of Alphabet stock. The shares were sold at an average price of $1,018.01, for a total value of $4,072,040.00.

Shares of GOOG stock opened at $1,068.14 on Thursday. Alphabet Inc. has a 1-year low of $839.32 and a 1-year high of $1,186.89. The firm has a market cap of $746,308.13, a P/E ratio of 33.45 and a beta of 1.08. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.88 billion. During the same period in the prior year, the company earned $9.36 EPS. The company’s revenue was up 24.0% on a year-over-year basis.

Alphabet declared that its Board of Directors has authorized a share buyback program on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

A number of brokerages recently issued reports on GOOG. Vetr downgraded Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price target for the company. in a report on Wednesday, January 10th. Morningstar reiterated a “neutral” rating on shares of Alphabet in a research note on Friday, January 19th. SunTrust Banks boosted their price objective on Alphabet to $1,250.00 and gave the company a “buy” rating in a research note on Friday, January 12th. Atlantic Securities reiterated a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. Finally, JPMorgan Chase reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $1,088.68.

Hedge funds have recently made changes to their positions in the stock. Stuart Chaussee & Associates Inc. grew its holdings in Alphabet by 108.3% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock valued at $105,000 after purchasing an additional 52 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in Alphabet by 3.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after purchasing an additional 5 shares during the last quarter. Price Wealth Management Inc. acquired a new stake in Alphabet in the fourth quarter valued at $125,000. WealthShield LLC acquired a new stake in Alphabet in the fourth quarter valued at $144,000. Finally, Almanack Investment Partners LLC. grew its holdings in Alphabet by 4.5% in the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after purchasing an additional 7 shares during the last quarter. 34.84% of the stock is currently owned by hedge funds and other institutional investors.

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About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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