Zevenbergen Capital Investments LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Zevenbergen Capital Investments LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 659,745 shares of the information services provider’s stock after selling 22,785 shares during the period. Alphabet comprises about 2.6% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 12th biggest holding. Zevenbergen Capital Investments LLC’s holdings in Alphabet were worth $125,642,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Alphabet in the fourth quarter worth $1,551,533,000. FMR LLC increased its holdings in Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after buying an additional 5,655,022 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of Alphabet by 5,712.8% during the fourth quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock worth $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 boosted its position in shares of Alphabet by 10.3% during the third 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 worth $5,573,125,000 after acquiring an additional 3,113,395 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Alphabet during the fourth quarter valued at approximately $328,018,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s 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 in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,048 shares of company stock valued at $17,374,274. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent analyst reports. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday. Oppenheimer raised their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Performance

GOOG stock opened at $166.25 on Monday. The company has a market capitalization of $2.03 trillion, a P/E ratio of 20.65, a PEG ratio of 1.34 and a beta of 1.03. The company has a 50-day simple moving average of $184.37 and a 200 day simple moving average of $178.22. Alphabet Inc. has a fifty-two week low of $148.20 and a fifty-two week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is 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.