Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Trimmed by Suncoast Equity Management

Suncoast Equity Management decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,475 shares of the information services provider's stock after selling 4,875 shares during the period. Alphabet makes up approximately 4.3% of Suncoast Equity Management's holdings, making the stock its 10th largest holding. Suncoast Equity Management's holdings in Alphabet were worth $38,038,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOG. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. LSV Asset Management purchased a new position in shares of Alphabet in the fourth quarter worth about $27,000. WealthTrak Capital Management LLC purchased a new position in shares of Alphabet in the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet in the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Alphabet in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

NASDAQ GOOG opened at $167.73 on Friday. The business's fifty day moving average price is $166.31 and its 200-day moving average price is $176.39. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.23 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company's revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.50%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the sale, the chief executive officer now owns 2,555,196 shares of the company's stock, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 228,070 shares of company stock worth $37,745,632. Corporate insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. UBS Group decreased their price objective on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Oppenheimer lifted their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Citigroup reiterated a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $204.88.

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.

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