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

Zevenbergen Capital Investments LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent disclosure 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 approximately 2.6% of Zevenbergen Capital Investments LLC's portfolio, making the stock its 12th biggest position. Zevenbergen Capital Investments LLC's holdings in Alphabet were worth $125,642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $27,000. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet during the 3rd quarter valued at about $33,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on GOOG. Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Wedbush reiterated an "outperform" rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Cantor Fitzgerald restated a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. Rosenblatt Securities reiterated a "neutral" rating on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Oppenheimer raised their price objective on Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $209.13.

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Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company's stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the company'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 completion of the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock valued at $17,374,274 over the last quarter. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Alphabet stock traded up $2.86 during trading hours on Tuesday, hitting $172.79. The stock had a trading volume of 13,791,642 shares, compared to its average volume of 17,844,933. The company has a 50-day moving average of $183.93 and a two-hundred day moving average of $178.30. 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 Inc. has a fifty-two week low of $148.20 and a fifty-two week high of $208.70. The company has a market cap of $2.11 trillion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet's dividend payout ratio (DPR) is currently 9.94%.

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.