Alphabet Inc. $GOOGL Shares Bought by Siren L.L.C.

Key Points

• Siren L.L.C. significantly increased its stake in Alphabet Inc. by 624.3%, acquiring an additional 43,703 shares, bringing its total holdings to 50,703 shares valued at approximately $7.84 million.
• Multiple other investors, including Mystic Asset Management Inc. and Harbour Trust & Investment Management Co., also raised their positions in Alphabet during the first quarter, indicating strong institutional interest.
• Alphabet announced a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 8th, representing an annualized yield of 0.4%.

Siren L.L.C. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 624.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,703 shares of the information services provider's stock after purchasing 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 filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Mystic Asset Management Inc. lifted its stake in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its stake in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC acquired a new position in Alphabet during the 4th quarter worth about $3,119,000. Cypress Capital LLC lifted its stake in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after acquiring an additional 563 shares in the last quarter. Finally, Falcon Wealth Planning lifted its stake in Alphabet by 15.7% during the 1st quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock worth $1,531,000 after acquiring an additional 1,340 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director directly owned 6,916 shares of the company's stock, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,710 shares of company stock worth $47,225,230. Insiders own 11.55% of the company's stock.

Alphabet Stock Up 0.6%

Shares of GOOGL traded up $1.27 during mid-day trading on Friday, reaching $212.91. The company's stock had a trading volume of 39,702,089 shares, compared to its average volume of 29,138,272. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $214.65. The stock has a market cap of $2.57 trillion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 1.43 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 company's 50 day moving average is $190.44 and its 200 day moving average is $173.96.

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

Alphabet Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently issued reports on GOOGL. JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. BNP Paribas Exane reissued a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. DA Davidson increased their target price on Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. JMP Securities increased their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Finally, Cantor Fitzgerald increased their target price on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $211.53.

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.