Zevin Asset Management LLC Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Zevin Asset Management LLC has reduced its holdings in Alphabet Inc. by 20.8%, now owning 86,351 shares valued at approximately $13.35 million.
• Alphabet's stock price opened at $195.75 and has a market cap of $2.38 trillion, with analysts maintaining an overall "Moderate Buy" consensus and a price target around $211.39.
• The company recently announced a quarterly dividend of $0.21 per share, yielding 0.43%, with a payout ratio of 8.95%.

Zevin Asset Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,351 shares of the information services provider's stock after selling 22,723 shares during the quarter. Alphabet comprises about 2.1% of Zevin Asset Management LLC's investment portfolio, making the stock its 19th biggest holding. Zevin Asset Management LLC's holdings in Alphabet were worth $13,353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. von Borstel & Associates Inc. purchased a new stake in Alphabet during the first quarter valued at $28,000. Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the first quarter worth about $39,000. Elite Financial Inc. bought a new position in shares of Alphabet in the first quarter worth about $42,000. Anderson Financial Strategies LLC purchased a new stake in Alphabet in the fourth quarter worth about $49,000. Finally, EQ Wealth Advisors LLC purchased a new stake in Alphabet in the first quarter worth about $49,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,399 shares of company stock worth $43,525,794 over the last 90 days. 11.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Westpark Capital increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Tigress Financial increased their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. DA Davidson upped their target price on Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.39.

Alphabet Stock Performance

Shares of GOOGL stock traded down $2.77 during trading hours on Friday, hitting $189.13. The stock had a trading volume of 34,777,882 shares, compared to its average volume of 37,170,977. The firm has a market capitalization of $2.30 trillion, a PE ratio of 20.14, a PEG ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The stock's 50 day moving average is $177.91 and its 200 day moving average is $173.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet Announces Dividend

The business also recently declared 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 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

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.