Headlands Technologies LLC Acquires Shares of 59,776 Alphabet Inc. (NASDAQ:GOOG)

Headlands Technologies LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 59,776 shares of the information services provider’s stock, valued at approximately $10,964,000. Alphabet comprises about 1.2% of Headlands Technologies LLC’s portfolio, making the stock its 14th largest holding.

Other hedge funds have also modified their holdings of the company. Gilbert & Cook Inc. grew its stake in shares of Alphabet by 15.5% in the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock valued at $4,109,000 after purchasing an additional 3,924 shares during the last quarter. Concentrum Wealth Management lifted its holdings in shares of Alphabet by 25.0% during the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock worth $2,317,000 after purchasing an additional 3,283 shares during the period. Aveo Capital Partners LLC lifted its holdings in shares of Alphabet by 2.4% during the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock worth $937,000 after purchasing an additional 154 shares during the period. Jump Financial LLC grew its position in Alphabet by 103.9% in the 4th quarter. Jump Financial LLC now owns 10,181 shares of the information services provider’s stock valued at $1,435,000 after buying an additional 5,188 shares during the last quarter. Finally, Boston Partners increased its stake in Alphabet by 4.5% in the 4th quarter. Boston Partners now owns 26,719 shares of the information services provider’s stock valued at $3,766,000 after buying an additional 1,143 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 2.2 %

GOOG opened at $155.54 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market cap of $1.92 trillion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The business’s fifty day moving average is $169.73 and its two-hundred day moving average is $165.83.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the previous year, the firm earned $1.44 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. TD Cowen lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The disclosure for this sale can be found here. Insiders sold a total of 201,867 shares of company stock valued at $34,218,581 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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.