Headland Capital LLC Buys 136 Shares of Alphabet Inc. $GOOG

Headland Capital LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the second quarter, HoldingsChannel.com reports. The fund owned 2,732 shares of the information services provider’s stock after acquiring an additional 136 shares during the period. Alphabet makes up 0.2% of Headland Capital LLC’s investment portfolio, making the stock its 16th largest position. Headland Capital LLC’s holdings in Alphabet were worth $485,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. PUREfi Wealth LLC increased its stake in shares of Alphabet by 16.9% in the 2nd quarter. PUREfi Wealth LLC now owns 7,252 shares of the information services provider’s stock valued at $1,286,000 after acquiring an additional 1,048 shares during the last quarter. Cullinan Associates Inc. increased its stake in shares of Alphabet by 2.2% in the 2nd quarter. Cullinan Associates Inc. now owns 88,021 shares of the information services provider’s stock valued at $15,614,000 after acquiring an additional 1,900 shares during the last quarter. Petros Family Wealth LLC increased its stake in shares of Alphabet by 0.9% in the 2nd quarter. Petros Family Wealth LLC now owns 14,805 shares of the information services provider’s stock valued at $2,626,000 after acquiring an additional 127 shares during the last quarter. Vantage Investment Partners LLC increased its stake in shares of Alphabet by 19.0% in the 2nd quarter. Vantage Investment Partners LLC now owns 401,773 shares of the information services provider’s stock valued at $71,271,000 after acquiring an additional 64,102 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC increased its stake in shares of Alphabet by 6.7% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 98,349 shares of the information services provider’s stock valued at $17,446,000 after acquiring an additional 6,140 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $210.00 price target (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Pivotal Research boosted their price objective on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Finally, KeyCorp set a $265.00 price objective on Alphabet in a research report on Wednesday, September 3rd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $237.68.

Alphabet Trading Down 0.7%

NASDAQ:GOOG opened at $245.46 on Thursday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. 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 business has a 50 day moving average price of $225.03 and a two-hundred day moving average price of $188.71. The company has a market cap of $2.97 trillion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 1.67 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. The business’s revenue was up 13.8% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.95%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 in the last quarter. 12.99% of the stock is currently owned by insiders.

About Alphabet

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.