Alphabet Inc. $GOOGL Shares Purchased by Dark Forest Capital Management LP

Key Points

• Dark Forest Capital Management LP boosted its holdings in Alphabet Inc. by 51.1% in the first quarter, now owning 152,604 shares valued at approximately $23.6 million.
• Alphabet's quarterly earnings report indicated an EPS of $2.31, surpassing estimates, with revenue reaching $96.43 billion.
• According to Wall Street analysts, Alphabet has received multiple upgrades, with price targets ranging from $190 to $225, reflecting positive market sentiment and potential for growth.

Dark Forest Capital Management LP raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 51.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 152,604 shares of the information services provider's stock after purchasing an additional 51,616 shares during the quarter. Alphabet accounts for approximately 1.1% of Dark Forest Capital Management LP's investment portfolio, making the stock its 3rd biggest position. Dark Forest Capital Management LP's holdings in Alphabet were worth $23,599,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Nia Impact Advisors LLC grew its stake in shares of Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares during the period. Enzi Wealth grew its stake in shares of Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after purchasing an additional 62 shares during the period. Whipplewood Advisors LLC grew its stake in shares of Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after purchasing an additional 67 shares during the period. Aspire Capital Advisors LLC grew its stake in shares of Alphabet by 1.0% during the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after purchasing an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. boosted its position in Alphabet by 2.1% during the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock worth $496,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 222,210 shares of company stock worth $41,742,155. 11.64% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.9%

Alphabet stock traded up $1.98 during trading on Friday, reaching $234.28. 24,551,799 shares of the company were exchanged, compared to its average volume of 36,677,457. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $235.76. The company has a market capitalization of $2.83 trillion, a P/E ratio of 24.96, a PEG ratio of 1.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock's 50 day simple moving average is $194.66 and its two-hundred day simple moving average is $175.13.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Analysts Set New Price Targets

Several brokerages have commented on GOOGL. UBS Group raised their price objective on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Truist Financial reissued a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. BMO Capital Markets raised their price objective on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Cantor Fitzgerald raised their target price on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, DA Davidson raised their target price on Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $221.31.

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.