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

Zevenbergen Capital Investments LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,445 shares of the information services provider’s stock after selling 115 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Alphabet were worth $461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Vanguard Group Inc. boosted its position in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares in the last quarter. State Street Corp raised its stake in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in Alphabet by 111,197.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. Finally, Norges Bank acquired a new position in Alphabet in the 4th quarter valued at about $8,335,063,000. 35.08% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.2 %

NASDAQ GOOGL opened at $136.17 on Friday. The stock has a market cap of $1.72 trillion, a PE ratio of 28.85, a P/E/G ratio of 1.51 and a beta of 1.06. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $138.00. The business has a 50 day moving average price of $126.03 and a two-hundred day moving average price of $114.21. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same period in the prior year, the business posted $1.21 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Alphabet from $116.00 to $121.00 in a research note on Wednesday, July 26th. StockNews.com initiated coverage on shares of Alphabet in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Evercore ISI boosted their target price on shares of Alphabet from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. Truist Financial upped their price objective on shares of Alphabet from $122.00 to $160.00 in a research note on Wednesday, July 26th. Finally, Barclays upped their price objective on shares of Alphabet from $160.00 to $200.00 in a research note on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $143.89.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the transaction, the director now directly owns 5,340 shares in the company, valued at approximately $700,287.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder 2019 Gp L.L.C. Gv sold 15,672 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $14.48, for a total transaction of $226,930.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the sale, the director now directly owns 5,340 shares in the company, valued at $700,287.60. The disclosure for this sale can be found here. In the last three months, insiders sold 153,813 shares of company stock worth $7,380,379. 0.88% of the stock is currently owned by insiders.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.