Alphabet Inc. (NASDAQ:GOOG) Position Lowered by Zevin Asset Management LLC

Zevin Asset Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,368 shares of the information services provider’s stock after selling 2,246 shares during the period. Alphabet makes up approximately 3.4% of Zevin Asset Management LLC’s portfolio, making the stock its 8th biggest position. Zevin Asset Management LLC’s holdings in Alphabet were worth $22,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Abich Financial Wealth Management LLC raised its holdings in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Alphabet in the 2nd quarter valued at about $37,000. HWG Holdings LP purchased a new stake in Alphabet in the 2nd quarter valued at about $40,000. Slocum Gordon & Co LLP acquired a new position in Alphabet in the 2nd quarter valued at about $44,000. Finally, Sanctuary Wealth Management L.L.C. increased its stake in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,795 shares of company stock worth $34,471,141. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOG. Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Barclays upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $173.89 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a fifty day moving average price of $167.01 and a 200 day moving average price of $171.74. Alphabet Inc. has a 1-year low of $129.40 and a 1-year high of $193.31. The company has a market cap of $2.13 trillion, a PE ratio of 23.06, a P/E/G ratio of 1.22 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.55 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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.