Jackson Square Partners LLC Sells 72,334 Shares of Alphabet Inc. (GOOG)

Jackson Square Partners LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 728,227 shares of the company’s stock after selling 72,334 shares during the period. Alphabet comprises approximately 2.5% of Jackson Square Partners LLC’s portfolio, making the stock its 17th largest position. Jackson Square Partners LLC’s holdings in Alphabet were worth $566,043,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Alphabet by 1.2% in the second quarter. Vanguard Group Inc. now owns 18,237,076 shares of the company’s stock worth $12,621,879,000 after buying an additional 221,141 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Alphabet by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,897,508 shares of the company’s stock worth $6,138,654,000 after buying an additional 138,807 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Alphabet by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 4,058,328 shares of the company’s stock worth $3,154,497,000 after buying an additional 27,472 shares during the period. BlackRock Fund Advisors increased its stake in shares of Alphabet by 3.1% in the third quarter. BlackRock Fund Advisors now owns 3,883,226 shares of the company’s stock worth $3,018,393,000 after buying an additional 117,242 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Alphabet by 0.3% in the third quarter. Northern Trust Corp now owns 3,783,135 shares of the company’s stock worth $2,940,593,000 after buying an additional 12,591 shares during the period. 34.77% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Alphabet Inc. (NASDAQ:GOOG) traded up 0.51% on Friday, hitting $813.67. 1,134,976 shares of the company were exchanged. The stock has a market capitalization of $562.59 billion, a P/E ratio of 29.19 and a beta of 0.94. The company has a 50 day moving average price of $803.48 and a 200-day moving average price of $782.45. Alphabet Inc. has a 52 week low of $663.28 and a 52 week high of $841.95.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, January 26th. The company reported $9.36 EPS for the quarter, missing the consensus estimate of $9.67 by $0.31. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The firm earned $26.04 billion during the quarter, compared to analysts’ expectations of $25.18 billion. During the same period in the previous year, the firm earned $8.67 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post $33.23 earnings per share for the current fiscal year.

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A number of analysts have recently weighed in on GOOG shares. Cantor Fitzgerald reaffirmed a “buy” rating and set a $1,040.00 price target on shares of Alphabet in a report on Saturday, December 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $1,000.00 price target on shares of Alphabet in a report on Friday, December 23rd. Aegis reaffirmed a “buy” rating and set a $1,011.00 price target on shares of Alphabet in a report on Tuesday, January 31st. Robert W. Baird reaffirmed an “outperform” rating and set a $960.00 price target on shares of Alphabet in a report on Thursday. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $1,090.00 price target (up previously from $1,080.00) on shares of Alphabet in a report on Friday, January 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and forty-two have assigned a buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average price target of $960.88.

In other Alphabet news, SVP David C. Drummond sold 2,000 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $763.68, for a total transaction of $1,527,360.00. Following the transaction, the senior vice president now directly owns 9,748 shares of the company’s stock, valued at approximately $7,444,352.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP James Grier Campbell sold 194 shares of the business’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $744.59, for a total transaction of $144,450.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 829,752 shares of company stock worth $659,070,834. 13.92% of the stock is owned by insiders.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

5 Day Chart for NASDAQ:GOOG

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