Alphabet Inc. $GOOGL is Suncoast Equity Management’s 7th Largest Position

Suncoast Equity Management reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 19.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,436 shares of the information services provider’s stock after selling 26,719 shares during the period. Alphabet comprises about 4.9% of Suncoast Equity Management’s portfolio, making the stock its 7th biggest holding. Suncoast Equity Management’s holdings in Alphabet were worth $39,466,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Strategic Wealth Advisors LLC raised its position in shares of Alphabet by 6.0% in the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock worth $137,000 after acquiring an additional 27 shares during the period. Rockbridge Investment Management LCC grew its position in shares of Alphabet by 0.5% during the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider’s stock valued at $1,570,000 after acquiring an additional 27 shares during the period. Ruggaard & Associates LLC grew its position in shares of Alphabet by 0.9% during the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider’s stock valued at $840,000 after acquiring an additional 27 shares during the period. Cadia Private Client LLC increased its stake in shares of Alphabet by 1.1% in the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock valued at $744,000 after purchasing an additional 28 shares in the last quarter. Finally, Evansbrook LLC increased its stake in shares of Alphabet by 0.3% in the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider’s stock valued at $2,738,000 after purchasing an additional 28 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

Alphabet Trading Up 1.2%

Shares of Alphabet stock opened at $344.82 on Friday. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a twelve month low of $201.30 and a twelve month high of $408.61. The firm has a market capitalization of $4.22 trillion, a PE ratio of 17.32, a P/E/G ratio of 0.97 and a beta of 1.24. The firm’s 50-day moving average price is $352.00 and its 200 day moving average price is $341.37.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. The business had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. On average, sell-side analysts predict that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s payout ratio is presently 4.42%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOGL. China Renaissance increased their price target on Alphabet from $400.00 to $485.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. KeyCorp raised their price objective on Alphabet from $425.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Barclays restated an “overweight” rating and issued a $425.00 price objective (up from $405.00) on shares of Alphabet in a research report on Thursday, July 23rd. Morgan Stanley set a $400.00 target price on Alphabet and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group increased their target price on Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Six analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $420.19.

Insider Transactions at Alphabet

In related news, CAO Marsida Saraci sold 449 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the transaction, the chief accounting officer directly owned 27,386 shares of the company’s stock, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 82 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $333.39, for a total value of $27,337.98. Following the completion of the transaction, the director owned 18,914 shares in the company, valued at $6,305,738.46. The trade was a 0.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 451,945 shares of company stock valued at $12,382,714 over the last ninety days. Company insiders own 11.61% of the company’s stock.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.