Lawrence Page (Insider Trades), CEO and 10% owner of Alphabet Inc. (GOOG), sold 33,332 Class C shares of the company on Oct. 24. The average price per share was $823.31 for a total transaction of $27,442,569. Alphabet Inc. is a conglomerate that encompasses a variety of companies, including a restructured Google Inc. Lawrence Page and Sergey Brin, the founders of Google, also serve as the CEO and president of Alphabet Inc. The company has a market cap of $562.94 billion.
Including the aforementioned transaction, Page conducted 53 insider sells in 2016 to date, amounting to 1,500,004 shares sold. Since 2014, Page has sold a total of 4,956,003 shares of the company in 160 transactions.
Google Inc. CEO Sundar Pichai (Insider Trades) also sold 4,000 shares of the company at an average per share price of $801.27. The number and volume of insider sells per year increased from 131 transactions totaling 3,511,185 shares in 2014, to 176 transactions totaling 4,110,129 shares in 2015. In 2016 to date, there were 148 insider sells of Alphabet, which amounts to 3,273,049 shares. For more information about insider trades with Alphabet, click here.
The company reported an increase in first quarter total revenues from $17.258 billion in 2015 to $20.257 billion in 2016. GAAP net income also increased from $3.515 billion, or $5.10 per share, to $4.207 billion, or $6.02 per share, when comparing the same periods of time. Ruth Porat, chief financial officer of Alphabet Inc., commented that after a “tremendous start to the year with 17% revenue growth year on year,” the company is “pursuing big bets and building exciting new technologies in Google and …Other Bets” that position the company well for “long-term growth.” During the first quarter of 2016, the company repurchased 3.2 million shares of Alphabet Class C capital stock for an aggregate amount of $2.3 billion. The company paid $2.1 billion during the quarter, and the remaining authorization for future repurchases, which does not expire, is approximately $1.4 billion.
According to GuruFocus, Alphabet Inc. has a business predictability rank of 3.5 out of 5 stars. For more information about business predictability rank, click here.
During the third quarter of 2016, Spiros Segalas (Trades, Portfolio) acquired 832,116 shares of the company at an average per share price of $759.42. Steven Romick (Trades, Portfolio) sold 0.27% of his stake in Alphabet during the third quarter of 2016, after increasing his stake by 0.12% in the third quarter of the previous year for an average per share price of $614.57. For more information about guru trades with Alphabet, click here.
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