Headinvest LLC Purchases 480 Shares of Alphabet Inc. (NASDAQ:GOOG)

Headinvest LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,481 shares of the information services provider’s stock after acquiring an additional 480 shares during the quarter. Headinvest LLC’s holdings in Alphabet were worth $1,806,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $27,000. LSV Asset Management bought a new position in shares of Alphabet during the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet during the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet during the 4th quarter worth approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the transaction, the chief executive officer now owns 2,652,696 shares of the company’s stock, valued at $413,555,306.40. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 129,744 shares of company stock worth $20,968,366. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $170.06 on Thursday. The business’s 50 day moving average price is $160.23 and its two-hundred day moving average price is $176.62. The company has a market cap of $2.06 trillion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The business’s revenue was up 12.0% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Benchmark restated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Westpark Capital reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. KeyCorp cut their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, Susquehanna reiterated a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $203.94.

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.