Headlands Technologies LLC Has $6.76 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Headlands Technologies LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 60.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,941 shares of the information services provider’s stock after buying an additional 18,063 shares during the period. Alphabet accounts for about 2.0% of Headlands Technologies LLC’s investment portfolio, making the stock its 4th biggest holding. Headlands Technologies LLC’s holdings in Alphabet were worth $6,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Veracity Capital LLC raised its stake in shares of Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after buying an additional 1,173 shares during the last quarter. Independence Bank of Kentucky raised its stake in shares of Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after buying an additional 1,230 shares during the last quarter. Washington Trust Bank raised its stake in shares of Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after buying an additional 1,826 shares during the last quarter. CNB Bank raised its stake in shares of Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after buying an additional 1,710 shares during the last quarter. Finally, Sloy Dahl & Holst LLC raised its stake in shares of Alphabet by 1.9% during the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after buying an additional 155 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 10.0 %

Alphabet stock opened at $173.69 on Friday. The stock has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.60 and a beta of 1.05. Alphabet Inc. has a twelve month low of $104.42 and a twelve month high of $176.42. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $149.12 and a 200-day moving average of $142.77.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.17 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 6.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has an average rating of “Buy” and an average price target of $165.67.

Insider Activity

In other news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock worth $36,746,578 over the last quarter. 12.99% of the stock is currently owned by company 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.