Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Suncoast Equity Management

Suncoast Equity Management increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,709 shares of the information services provider’s stock after acquiring an additional 1,670 shares during the period. Alphabet comprises 3.4% of Suncoast Equity Management’s holdings, making the stock its 15th largest position. Suncoast Equity Management’s holdings in Alphabet were worth $30,233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Financial Harvest LLC acquired a new stake in Alphabet during the fourth quarter valued at $412,000. Cromwell Holdings LLC boosted its stake in shares of Alphabet by 0.9% during the 4th quarter. Cromwell Holdings LLC now owns 15,453 shares of the information services provider’s stock worth $2,925,000 after acquiring an additional 141 shares in the last quarter. Aspen Investment Management Inc grew its position in shares of Alphabet by 1.2% during the 4th quarter. Aspen Investment Management Inc now owns 11,652 shares of the information services provider’s stock valued at $2,206,000 after acquiring an additional 142 shares during the period. Prakash Investment Advisors LLC purchased a new position in shares of Alphabet in the 4th quarter valued at about $1,762,000. Finally, Parcion Private Wealth LLC increased its stake in shares of Alphabet by 166.6% in the 4th quarter. Parcion Private Wealth LLC now owns 64,284 shares of the information services provider’s stock valued at $12,169,000 after purchasing an additional 40,172 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Piper Sandler cut their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Wedbush increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Finally, DA Davidson upped their price target on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Stock Performance

NASDAQ GOOGL opened at $173.02 on Thursday. The stock has a market cap of $2.11 trillion, a PE ratio of 21.49, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a twelve month low of $130.85 and a twelve month high of $207.05. The stock has a fifty day simple moving average of $189.06 and a 200-day simple moving average of $176.38. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,316 shares of company stock valued at $25,062,887. 11.55% of the stock is currently owned by corporate 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.