Zevenbergen Capital Investments LLC Reduces Holdings in Alphabet Inc. $GOOG

Zevenbergen Capital Investments LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the second quarter, Holdings Channel.com reports. The fund owned 636,235 shares of the information services provider’s stock after selling 18,195 shares during the period. Alphabet accounts for approximately 2.2% of Zevenbergen Capital Investments LLC’s holdings, making the stock its 15th biggest holding. Zevenbergen Capital Investments LLC’s holdings in Alphabet were worth $112,862,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock worth $96,465,000 after purchasing an additional 20,855 shares during the period. Sentinus LLC lifted its holdings in shares of Alphabet by 23.5% during the fourth quarter. Sentinus LLC now owns 8,799 shares of the information services provider’s stock worth $1,676,000 after purchasing an additional 1,677 shares during the period. Select Equity Group L.P. lifted its holdings in shares of Alphabet by 25.1% during the fourth quarter. Select Equity Group L.P. now owns 584,478 shares of the information services provider’s stock worth $111,308,000 after purchasing an additional 117,189 shares during the period. Finally, Scissortail Wealth Management LLC lifted its holdings in shares of Alphabet by 53,418.2% during the fourth quarter. Scissortail Wealth Management LLC now owns 5,887 shares of the information services provider’s stock worth $1,121,000 after purchasing an additional 5,876 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.2%

Shares of NASDAQ:GOOG opened at $241.38 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $242.57. The company has a market capitalization of $2.92 trillion, a PE ratio of 25.71, a PEG ratio of 1.62 and a beta of 1.01. The business has a 50 day moving average of $202.67 and a two-hundred day moving average of $178.86. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $227.56.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares of the company’s stock, valued at $1,383,200. This represents a 12.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,710 shares of company stock valued at $49,208,380. Corporate insiders own 12.99% of the company’s stock.

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.