Silvercrest Asset Management Group LLC Sells 38,155 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Silvercrest Asset Management Group LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 570,366 shares of the information services provider’s stock after selling 38,155 shares during the period. Alphabet comprises 0.7% of Silvercrest Asset Management Group LLC’s portfolio, making the stock its 25th largest holding. Silvercrest Asset Management Group LLC’s holdings in Alphabet were worth $107,970,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its stake in shares of Alphabet by 0.9% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 23,533 shares of the information services provider’s stock worth $4,455,000 after acquiring an additional 207 shares during the last quarter. Wealth Group Ltd. lifted its position in shares of Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after purchasing an additional 78 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in Alphabet by 10.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,262 shares of the information services provider’s stock worth $428,000 after purchasing an additional 214 shares during the last quarter. Finally, GSG Advisors LLC increased its stake in shares of Alphabet by 2.4% in the 4th quarter. GSG Advisors LLC now owns 6,602 shares of the information services provider’s stock valued at $1,250,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GOOGL. KeyCorp increased their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $178.00 price objective on shares of Alphabet in a research note on Friday, April 25th. DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a report on Thursday, February 6th. Piper Sandler upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, Susquehanna cut their price target on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Alphabet Trading Down 0.9%

GOOGL stock opened at $163.96 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a market capitalization of $1.99 trillion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company’s 50-day simple moving average is $158.17 and its 200 day simple moving average is $175.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the previous year, the business earned $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares in the company, valued at approximately $1,232,544.70. The trade was a 2.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the transaction, the chief executive officer now owns 2,652,696 shares of the company’s stock, valued at $413,555,306.40. This trade represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,324 shares of company stock valued at $30,153,353. Corporate insiders own 11.64% of the company’s stock.

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.