Suncoast Equity Management raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,449 shares of the information services provider’s stock after acquiring an additional 654 shares during the period. Alphabet makes up 1.6% of Suncoast Equity Management’s portfolio, making the stock its 20th largest holding. Suncoast Equity Management’s holdings in Alphabet were worth $8,863,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Bornite Capital Management LP bought a new stake in shares of Alphabet in the 1st quarter valued at about $16,688,000. Markel Corp raised its stake in shares of Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after acquiring an additional 2,250 shares in the last quarter. United Bank raised its stake in shares of Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after acquiring an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management increased its stake in Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors.
Alphabet Stock Up 1.3 %
Shares of GOOGL stock opened at $108.87 on Friday. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $131.40. The firm has a market cap of $1.39 trillion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.45 and a beta of 1.10. The stock has a 50 day moving average of $98.64 and a 200-day moving average of $96.18. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.
Insider Transactions at Alphabet
In other Alphabet news, insider John Kent Walker sold 11,313 shares of the stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the transaction, the insider now owns 41,970 shares of the company’s stock, valued at $4,197,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John Kent Walker sold 11,313 shares of the stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares in the company, valued at $4,197,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 340 shares of the firm’s stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the transaction, the director now owns 11,300 shares of the company’s stock, valued at $1,095,196. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,192 shares of company stock worth $11,373,417. Insiders own 11.44% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on GOOGL shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a report on Monday, April 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Loop Capital raised their price objective on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. New Street Research started coverage on shares of Alphabet in a research report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price objective for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $132.00 target price on shares of Alphabet in a research note on Thursday, March 16th. Four equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.17.
Alphabet Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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