SCS Capital Management LLC Has $10.13 Million Stock Holdings in Alphabet Inc. $GOOG

Key Points

• SCS Capital Management LLC increased its holdings in Alphabet Inc. by 150.4%, acquiring an additional 38,946 shares, bringing its total ownership to 64,835 shares worth approximately $10.13 million.
• Alphabet recently announced a quarterly dividend of $0.21 per share, set to be paid on September 15th, with the dividend yield at 0.4%.
• Analysts' ratings for Alphabet are generally optimistic, with an average target price of $227.56 and several firms issuing "buy" ratings despite some downgrades.

SCS Capital Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 150.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,835 shares of the information services provider's stock after purchasing an additional 38,946 shares during the quarter. SCS Capital Management LLC's holdings in Alphabet were worth $10,129,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principia Wealth Advisory LLC grew its holdings in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet during the 1st quarter worth $32,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth $34,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on GOOG. KeyCorp set a $265.00 price objective on Alphabet in a research report on Wednesday, September 3rd. Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Scotiabank upped their price objective on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Oppenheimer restated an "outperform" rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, Barclays restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $227.56.

Alphabet Trading Up 0.5%

Alphabet stock traded up $1.22 during trading hours on Thursday, hitting $240.78. The stock had a trading volume of 21,272,040 shares, compared to its average volume of 23,996,289. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.91 trillion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 1.61 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $242.57. The business's 50 day simple moving average is $200.24 and its 200-day simple moving average is $177.98.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.89 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 over the last three months. Company insiders own 12.99% of the company's stock.

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.