SouthState Corp Has $26.58 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

SouthState Corp increased its position in Alphabet Inc. (NASDAQ:GOOG) by 6.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 139,575 shares of the information services provider’s stock after acquiring an additional 8,214 shares during the period. Alphabet comprises approximately 1.7% of SouthState Corp’s portfolio, making the stock its 12th largest holding. SouthState Corp’s holdings in Alphabet were worth $26,581,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GOOG. Raymond James Financial Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $1,551,533,000. FMR LLC lifted its holdings in shares of Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after purchasing an additional 5,655,022 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Alphabet by 5,712.8% during the 4th quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock valued at $831,810,000 after purchasing an additional 4,292,689 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Alphabet by 182.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after purchasing an additional 1,630,701 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOG. Scotiabank lifted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Wedbush restated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This represents a 9.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,048 shares of company stock valued at $17,374,274. 12.99% of the stock is owned by insiders.

Alphabet Trading Up 1.8 %

Shares of Alphabet stock opened at $167.62 on Monday. Alphabet Inc. has a 12-month low of $141.13 and a 12-month high of $208.70. The stock has a market cap of $2.04 trillion, a P/E ratio of 20.82, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $187.41 and its 200-day moving average is $178.10.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Alphabet Profile

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.