Suncoast Equity Management Has $18.59 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Suncoast Equity Management boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 7.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 133,046 shares of the information services provider’s stock after purchasing an additional 9,112 shares during the period. Alphabet makes up approximately 2.5% of Suncoast Equity Management’s holdings, making the stock its 16th biggest position. Suncoast Equity Management’s holdings in Alphabet were worth $18,585,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of GOOGL. Aire Advisors LLC increased its position in shares of Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after acquiring an additional 68 shares during the last quarter. Defined Wealth Management LLC increased its position in shares of Alphabet by 2.9% during the 4th quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after purchasing an additional 71 shares during the last quarter. WealthCare Investment Partners LLC raised its stake in shares of Alphabet by 2.1% during the 4th quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock worth $482,000 after purchasing an additional 71 shares during the period. Peoples Financial Services CORP. boosted its holdings in shares of Alphabet by 0.4% in the 4th quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock worth $2,331,000 after buying an additional 72 shares during the last quarter. Finally, RAM Investment Partners LLC raised its position in Alphabet by 1.0% in the fourth quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock worth $1,055,000 after acquiring an additional 73 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock worth $36,377,482 in the last 90 days. 0.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Canaccord Genuity Group increased their target price on shares of Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Barclays cut their price target on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Roth Mkm decreased their price objective on Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Susquehanna upped 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. Finally, UBS Group lifted their target price on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $158.71.

Alphabet Trading Up 1.3 %

Shares of GOOGL stock opened at $158.26 on Wednesday. The firm has a market cap of $1.97 trillion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The business has a 50-day moving average price of $146.69 and a two-hundred day moving average price of $140.93. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same period in the previous year, the business posted $1.05 EPS. Equities analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

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.