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

Zevenbergen Capital Investments LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 837,807 shares of the information services provider’s stock after selling 16,863 shares during the quarter. Alphabet makes up approximately 2.7% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 13th biggest position. Zevenbergen Capital Investments LLC’s holdings in Alphabet were worth $118,072,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Ardent Capital Management Inc. grew its holdings in Alphabet by 1.6% in the 4th quarter. Ardent Capital Management Inc. now owns 93,414 shares of the information services provider’s stock worth $13,165,000 after acquiring an additional 1,500 shares during the last quarter. Greenup Street Wealth Management LLC grew its stake in shares of Alphabet by 29.7% in the fourth quarter. Greenup Street Wealth Management LLC now owns 8,278 shares of the information services provider’s stock worth $1,167,000 after purchasing an additional 1,898 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc raised its position in Alphabet by 2.6% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 9,220 shares of the information services provider’s stock valued at $1,299,000 after purchasing an additional 230 shares during the last quarter. WT Wealth Management lifted its holdings in Alphabet by 29.8% in the 4th quarter. WT Wealth Management now owns 43,438 shares of the information services provider’s stock worth $6,122,000 after buying an additional 9,964 shares during the period. Finally, Great Lakes Advisors LLC raised its holdings in Alphabet by 22.8% in the 4th quarter. Great Lakes Advisors LLC now owns 268,580 shares of the information services provider’s stock worth $37,851,000 after purchasing an additional 49,828 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna boosted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Raymond James raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $165.67.

Read Our Latest Report on Alphabet

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares in the company, valued at $3,903,886.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total value of $3,219,300.00. Following the sale, the chief executive officer now directly owns 2,355,191 shares in the company, valued at approximately $336,980,728.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 276,511 shares of company stock worth $41,234,695. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG traded up $1.86 on Friday, hitting $177.29. 16,546,353 shares of the company’s stock traded hands, compared to its average volume of 22,773,608. The company’s 50 day simple moving average is $158.64 and its 200-day simple moving average is $146.41. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a one year low of $115.83 and a one year high of $177.49. The firm has a market cap of $2.19 trillion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 1.31 and a beta of 1.02.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Alphabet Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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