Headwater Capital Co Ltd Takes $22.85 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Headwater Capital Co Ltd bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, Holdings Channel reports. The firm bought 120,000 shares of the information services provider’s stock, valued at approximately $22,853,000. Alphabet accounts for about 12.2% of Headwater Capital Co Ltd’s portfolio, making the stock its 2nd largest holding.

A number of other hedge funds also recently added to or reduced their stakes in the company. Sunburst Financial Group LLC boosted its holdings in Alphabet by 2.1% in the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after purchasing an additional 60 shares during the period. Johnson Financial Group LLC grew its position in shares of Alphabet by 2.6% during the third quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock worth $395,000 after acquiring an additional 60 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in Alphabet by 0.7% in the fourth quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock worth $1,585,000 after purchasing an additional 60 shares during the period. Phillips Financial Management LLC lifted its holdings in Alphabet by 1.6% in the 3rd quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock valued at $644,000 after acquiring an additional 61 shares during the last quarter. Finally, Goodman Advisory Group LLC lifted its holdings in Alphabet by 2.3% in the 3rd quarter. Goodman Advisory Group LLC now owns 2,674 shares of the information services provider’s stock valued at $447,000 after acquiring an additional 61 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOG opened at $193.17 on Monday. The business has a fifty day simple moving average of $184.12 and a 200 day simple moving average of $174.45. The company has a market capitalization of $2.36 trillion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $202.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 EPS. Research analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Alphabet’s payout ratio is 10.61%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GOOG shares. Barclays upped their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Scotiabank initiated coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Citigroup raised their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total value of $473,929.82. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,406,343.27. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,387 shares of company stock valued at $27,748,931. Company 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.