Alphabet Inc. $GOOG Shares Sold by Zevin Asset Management LLC

Zevin Asset Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,491 shares of the information services provider’s stock after selling 3,392 shares during the quarter. Alphabet comprises approximately 2.9% of Zevin Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding. Zevin Asset Management LLC’s holdings in Alphabet were worth $20,132,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC grew its position in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the period. Deutsche Bank AG raised its position in shares of Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after buying an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Alphabet by 2.2% during the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after buying an additional 440,526 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GOOG shares. DA Davidson set a $825.00 price objective on shares of Alphabet in a report on Monday, October 27th. Mizuho set a $325.00 price target on Alphabet in a research note on Thursday, October 30th. Wolfe Research lifted their price target on Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Bank of America upped their price objective on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Robert W. Baird lifted their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Stock Performance

GOOG opened at $279.70 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.38 trillion, a PE ratio of 27.58, a P/E/G ratio of 1.86 and a beta of 1.05. The business has a fifty day simple moving average of $251.81 and a 200-day simple moving average of $205.14. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted $2.12 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the sale, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 222,396 shares of company stock worth $54,105,275 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

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.