Suncoast Equity Management Has $41.11 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Suncoast Equity Management trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,731 shares of the information services provider’s stock after selling 1,887 shares during the quarter. Alphabet accounts for 5.4% of Suncoast Equity Management’s portfolio, making the stock its 5th largest position. Suncoast Equity Management’s holdings in Alphabet were worth $41,114,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guerra Pan Advisors LLC lifted its stake in Alphabet by 1.8% during the fourth quarter. Guerra Pan Advisors LLC now owns 17,367 shares of the information services provider’s stock worth $2,448,000 after purchasing an additional 303 shares during the period. DGS Capital Management LLC lifted its position in shares of Alphabet by 3.2% during the 4th quarter. DGS Capital Management LLC now owns 26,253 shares of the information services provider’s stock worth $3,700,000 after buying an additional 810 shares during the period. First American Trust FSB boosted its stake in Alphabet by 235.6% in the 4th quarter. First American Trust FSB now owns 11,387 shares of the information services provider’s stock valued at $1,605,000 after buying an additional 7,994 shares in the last quarter. Hamilton Point Investment Advisors LLC grew its position in Alphabet by 2.0% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 90,204 shares of the information services provider’s stock valued at $12,713,000 after acquiring an additional 1,776 shares during the period. Finally, Members Trust Co raised its stake in Alphabet by 13.1% during the fourth quarter. Members Trust Co now owns 3,448 shares of the information services provider’s stock worth $487,000 after acquiring an additional 400 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

GOOG opened at $157.46 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market capitalization of $1.96 trillion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The company’s 50 day simple moving average is $147.35 and its 200-day simple moving average is $141.72. Alphabet Inc. has a one year low of $103.27 and a one year high of $161.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the company earned $1.05 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. 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 over the last 90 days. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GOOG shares. Oppenheimer upped their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Stifel Nicolaus increased their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Raymond James lifted their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $159.86.

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.