Zevenbergen Capital Investments LLC Sells 22,785 Shares of Alphabet Inc. (NASDAQ:GOOG)

Zevenbergen Capital Investments LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 659,745 shares of the information services provider’s stock after selling 22,785 shares during the quarter. Alphabet makes up 2.6% of Zevenbergen Capital Investments LLC’s holdings, 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 hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its stake in Alphabet by 5.2% in 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 period. Geode Capital Management LLC boosted its position in Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock worth $17,247,208,000 after purchasing an additional 259,213 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alphabet by 10.3% during the 3rd 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 valued at $5,573,125,000 after buying an additional 3,113,395 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Alphabet by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider’s stock valued at $5,870,181,000 after buying an additional 875,480 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after buying an additional 264,962 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,048 shares of company stock valued at $17,374,274. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $166.25 on Monday. The company has a market cap of $2.03 trillion, a P/E ratio of 20.65, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a 50-day moving average of $184.37 and a two-hundred day moving average of $178.22. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Scotiabank raised their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

About Alphabet

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.