SCS Capital Management LLC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

SCS Capital Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 294,816 shares of the information services provider’s stock after selling 44,128 shares during the quarter. Alphabet comprises about 1.2% of SCS Capital Management LLC’s holdings, making the stock its 19th largest holding. SCS Capital Management LLC’s holdings in Alphabet were worth $55,809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Coldstream Capital Management Inc. boosted its position in Alphabet by 3.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 138,658 shares of the information services provider’s stock valued at $26,248,000 after buying an additional 4,835 shares during the last quarter. Capital Analysts LLC lifted its stake in shares of Alphabet by 58.9% in the fourth quarter. Capital Analysts LLC now owns 59,558 shares of the information services provider’s stock worth $11,275,000 after acquiring an additional 22,071 shares in the last quarter. Core Wealth Advisors Inc. purchased a new position in Alphabet in the fourth quarter valued at about $221,000. UP Strategic Wealth Investment Advisors LLC grew its stake in Alphabet by 32.6% during the 4th quarter. UP Strategic Wealth Investment Advisors LLC now owns 11,935 shares of the information services provider’s stock valued at $2,259,000 after purchasing an additional 2,935 shares in the last quarter. Finally, Three Seasons Wealth LLC purchased a new stake in Alphabet during the 4th quarter worth approximately $634,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a legal 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 dated 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 owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,163 shares of company stock valued at $25,361,647 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Roth Mkm reiterated a “buy” rating and set a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Jefferies Financial Group decreased their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 31st. Citigroup boosted their target price on shares of Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. Sanford C. Bernstein increased their price target on shares of Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, DZ Bank lowered Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.03.

Alphabet Price Performance

NASDAQ GOOGL opened at $161.96 on Friday. The stock has a market capitalization of $1.97 trillion, a P/E ratio of 20.12, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The business’s fifty day moving average is $162.18 and its two-hundred day moving average is $175.43. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.52%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.