Jasper Ridge Partners L.P. Sells 93,142 Shares of Alphabet Inc. $GOOG

Jasper Ridge Partners L.P. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 39.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,695 shares of the information services provider’s stock after selling 93,142 shares during the period. Alphabet accounts for 0.6% of Jasper Ridge Partners L.P.’s holdings, making the stock its 17th largest position. Jasper Ridge Partners L.P.’s holdings in Alphabet were worth $25,667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. BNP Paribas lifted its holdings in Alphabet by 6.4% during the 2nd quarter. BNP Paribas now owns 433,193 shares of the information services provider’s stock worth $76,918,000 after purchasing an additional 26,246 shares during the last quarter. Frisch Financial Group Inc. grew its holdings in Alphabet by 2.7% in the 2nd quarter. Frisch Financial Group Inc. now owns 13,619 shares of the information services provider’s stock valued at $2,416,000 after buying an additional 363 shares in the last quarter. Dimension Capital Management LLC increased its position in Alphabet by 0.4% during the 2nd quarter. Dimension Capital Management LLC now owns 13,968 shares of the information services provider’s stock worth $2,478,000 after buying an additional 50 shares during the period. Marathon Capital Management lifted its holdings in shares of Alphabet by 1.4% during the second quarter. Marathon Capital Management now owns 44,738 shares of the information services provider’s stock worth $7,936,000 after buying an additional 621 shares in the last quarter. Finally, Heritage Wealth Management Inc. lifted its holdings in shares of Alphabet by 9.7% during the second quarter. Heritage Wealth Management Inc. now owns 11,229 shares of the information services provider’s stock worth $1,992,000 after buying an additional 990 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 228,906 shares of company stock valued at $62,127,158. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $321.00 on Thursday. The firm has a 50 day moving average of $281.13 and a 200-day moving average of $228.37. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $328.67. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.87 trillion, a PE ratio of 31.66, a PEG ratio of 1.84 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted $2.12 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Analysts Set New Price Targets

Several equities analysts recently commented on GOOG shares. DA Davidson set a $300.00 price target on shares of Alphabet in a research note on Tuesday, November 25th. Loop Capital raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. KeyCorp restated an “overweight” rating and set a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Robert W. Baird raised their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, December 3rd. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $310.54.

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.