Siren L.L.C. Acquires 43,703 Shares of Alphabet Inc. $GOOGL

Key Points

• Siren L.L.C. significantly increased its holdings in Alphabet Inc. by 624.3%, owning 50,703 shares valued at approximately $7.84 million after acquiring 43,703 additional shares in the first quarter.
• Two high-ranking insiders, including CEO Sundar Pichai, sold a combined total of approximately $12 million in stock recently, indicating a reduction in their ownership positions.
• Alphabet's quarterly earnings surpassed expectations, reporting $2.31 earnings per share against a forecast of $2.15, with revenues reaching $96.43 billion.

Siren L.L.C. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 624.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,703 shares of the information services provider's stock after buying an additional 43,703 shares during the period. Siren L.L.C.'s holdings in Alphabet were worth $7,841,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its holdings in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Highview Capital Management LLC DE raised its holdings in Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after purchasing an additional 1,003 shares during the last quarter. Forum Financial Management LP raised its holdings in Alphabet by 6.4% during the 4th quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider's stock worth $14,985,000 after purchasing an additional 4,756 shares during the last quarter. Finally, Triumph Capital Management grew its position in shares of Alphabet by 1.6% during the 4th quarter. Triumph Capital Management now owns 5,470 shares of the information services provider's stock worth $1,036,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Alphabet in a research report on Wednesday, September 3rd. Cantor Fitzgerald boosted their target price on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Westpark Capital boosted their target price on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. UBS Group boosted their target price on Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Truist Financial restated a "buy" rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, July 2nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.44.

Alphabet Stock Up 0.2%

NASDAQ GOOGL traded up $0.43 during trading on Friday, hitting $240.80. The stock had a trading volume of 26,758,216 shares, compared to its average volume of 35,407,372. The company has a market capitalization of $2.91 trillion, a PE ratio of 25.64, a P/E/G ratio of 1.62 and a beta of 1.01. The company's 50-day moving average price is $201.89 and its two-hundred day moving average price is $177.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $242.25.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's payout ratio is presently 8.95%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,710 shares of company stock worth $49,208,380. 11.64% of the stock is owned by corporate insiders.

Alphabet 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.