Alphabet Inc. (NASDAQ:GOOG) is Headlands Technologies LLC's 2nd Largest Position

Key Points

• Headlands Technologies LLC increased its holdings in Alphabet Inc. by 86.3% during the 1st quarter, making Alphabet its second largest position with a portfolio value of approximately $23 million.
• Alphabet reported a quarterly EPS of $2.31, surpassing analyst expectations, and achieved a revenue of $96.43 billion, marking a 13.8% increase year-over-year.
• The company declared a quarterly dividend of $0.21 per share, with an annualized dividend yield of 0.4%, scheduled for payment on September 15th.

Headlands Technologies LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 86.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 147,619 shares of the information services provider's stock after acquiring an additional 68,373 shares during the quarter. Alphabet comprises 2.6% of Headlands Technologies LLC's portfolio, making the stock its 2nd largest position. Headlands Technologies LLC's holdings in Alphabet were worth $23,063,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GOOG. Deutsche Bank AG grew its holdings in Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock valued at $3,334,852,000 after purchasing an additional 1,098,996 shares during the period. Roof Eidam Maycock Peralta LLC lifted its holdings in Alphabet by 3.0% during the first quarter. Roof Eidam Maycock Peralta LLC now owns 26,968 shares of the information services provider's stock worth $4,213,000 after acquiring an additional 785 shares in the last quarter. Evolution Wealth Advisors LLC increased its holdings in shares of Alphabet by 6.1% in the first quarter. Evolution Wealth Advisors LLC now owns 62,326 shares of the information services provider's stock worth $9,737,000 after acquiring an additional 3,568 shares in the last quarter. Coign Capital Advisors LLC lifted its stake in Alphabet by 3.0% in the 1st quarter. Coign Capital Advisors LLC now owns 7,889 shares of the information services provider's stock valued at $1,232,000 after acquiring an additional 229 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new position in shares of Alphabet in the 1st quarter valued at about $78,721,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Roth Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $215.19.

Alphabet Stock Performance

GOOG traded up $0.36 on Thursday, hitting $197.28. The company's stock had a trading volume of 14,292,926 shares, compared to its average volume of 25,208,792. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company's 50 day simple moving average is $181.28 and its 200-day simple moving average is $174.68. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.39 trillion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. Alphabet's revenue for the quarter was up 13.8% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 273,219 shares of company stock worth $49,474,273 over the last ninety days. Insiders own 12.99% of the company's stock.

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.