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

SCS Capital Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294,816 shares of the information services provider's stock after selling 44,128 shares during the period. Alphabet comprises 1.2% of SCS Capital Management LLC's holdings, making the stock its 19th biggest holding. SCS Capital Management LLC's holdings in Alphabet were worth $55,809,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Compass Planning Associates Inc acquired a new position in shares of Alphabet in the fourth quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth $39,000. PayPay Securities Corp increased its position in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after buying an additional 65 shares during the period. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth $53,000. Institutional investors own 40.03% of the company's stock.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18 % 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 quarter. Company insiders own 11.55% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $1.35 during midday trading on Monday, hitting $160.61. The company's stock had a trading volume of 29,697,494 shares, compared to its average volume of 28,296,295. The stock has a fifty day moving average price of $162.18 and a 200 day moving average price of $175.62. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 1.34 and a beta of 1.03.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.52%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.

Analyst Ratings Changes

Several research firms have recently weighed in on GOOGL. Needham & Company LLC reiterated a "buy" rating and set a $178.00 price objective on shares of Alphabet in a research report on Friday. Bank of America increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday. Cantor Fitzgerald decreased their price objective on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Mizuho decreased their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Susquehanna reduced their price target on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a report on Friday. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $198.63.

Alphabet Company 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.