Alphabet Inc. $GOOG Stock Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its Alphabet position by 30.1%: It sold 2.39 million shares during the third quarter but still held 5.54 million shares worth approximately $1.89 billion. Other major institutional investors, including BlackRock and State Street, increased their holdings.
• Alphabet’s investment case remains broadly positive: The company reported strong quarterly results, with revenue up 24.2% year over year and EPS well above estimates. Analysts maintain a consensus “Buy” rating with an average price target of $422.10, compared with a reported share price of $336.91.
• Investors face several risks despite Alphabet’s growth prospects: Insiders have continued selling shares, while higher interest rates and a securities lawsuit related to Gemini AI disclosures could weigh on sentiment.

Assenagon Asset Management S.A. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 30.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,541,890 shares of the information services provider's stock after selling 2,385,295 shares during the period. Alphabet comprises 1.4% of Assenagon Asset Management S.A.'s portfolio, making the stock its 11th biggest position. Assenagon Asset Management S.A.'s holdings in Alphabet were worth $1,888,344,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Alphabet by 1.4% during the second quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider's stock worth $130,704,718,000 after buying an additional 5,164,200 shares during the last quarter. State Street Corp lifted its holdings in Alphabet by 2.8% in the second quarter. State Street Corp now owns 190,923,442 shares of the information services provider's stock valued at $67,458,980,000 after buying an additional 5,208,690 shares during the period. Invesco Ltd. boosted its stake in Alphabet by 2.4% in the fourth quarter. Invesco Ltd. now owns 22,048,456 shares of the information services provider's stock valued at $6,918,805,000 after acquiring an additional 517,108 shares during the last quarter. Amundi boosted its stake in Alphabet by 22.9% in the first quarter. Amundi now owns 21,922,379 shares of the information services provider's stock valued at $6,288,654,000 after acquiring an additional 4,083,758 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Alphabet by 5.6% in the second quarter. Deutsche Bank AG now owns 17,313,729 shares of the information services provider's stock valued at $6,117,460,000 after acquiring an additional 913,666 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI-chip opportunity: Evercore ISI raised its Alphabet estimates, arguing that the company could sell its internally developed tensor processing units (TPUs) to cloud customers. AI-chip revenue could become a meaningful contributor to Google Cloud, supporting growth and improving the return on Alphabet’s substantial infrastructure investments. Evercore raises Alphabet estimates on potential TPU hardware sales
• Positive Sentiment: Quantum-computing breakthrough: Google reported a technique that reduces quantum-computing errors by roughly 40 times. Although commercialization remains uncertain, the development reinforces Alphabet’s long-term technology leadership and could support investor enthusiasm around its research portfolio. Google demonstrates new quantum computer breakthrough
• Positive Sentiment: Expansion of growth businesses: Waymo received approval to participate in Ontario’s automated-vehicle pilot program and is targeting a Toronto robotaxi launch in 2028. Alphabet also reached a multiyear AI-content agreement with CNN, potentially strengthening its AI products and training resources. Google's Waymo plans first Canada robotaxi service in Toronto in 2028
• Neutral Sentiment: Analyst support remains favorable: JPMorgan raised its Alphabet target to $425 and maintained an overweight rating, while recent commentary continues to emphasize strong cloud and AI growth. However, investors remain focused on whether large capital expenditures can generate sufficient future returns.
• Negative Sentiment: Macro pressure: A hotter-than-expected producer-price report reduced expectations for near-term Federal Reserve rate cuts. Higher-for-longer rates typically weigh on high-growth technology valuations, contributing to weakness across major technology shares, including Alphabet.
• Negative Sentiment: Legal overhang: Multiple law firms publicized a securities class action involving investors who held Alphabet shares between May 19 and July 16, 2026, citing alleged securities-law violations related to disclosures about Gemini AI performance. The repeated deadline reminders may add short-term sentiment pressure, although the ultimate financial impact remains uncertain. Kaplan Fox Alphabet class action reminder

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the transaction, the director directly owned 19,076 shares of the company's stock, valued at $6,494,424.20. The trade was a 0.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the transaction, the chief accounting officer directly owned 27,386 shares of the company's stock, valued at approximately $9,125,015.20. This trade represents a 1.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 420,865 shares of company stock worth $8,293,477 in the last 90 days. Company insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $336.91 on Friday. The stock has a 50 day moving average price of $341.08 and a 200 day moving average price of $348.80. Alphabet Inc. has a 52 week low of $244.67 and a 52 week high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The stock has a market capitalization of $4.12 trillion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.00 and a beta of 1.19.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. During the same period last year, the business posted $2.31 EPS. Alphabet's revenue was up 24.2% on a year-over-year basis. Analysts predict that Alphabet Inc. will post 20.54 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, September 7th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, September 4th. Alphabet's dividend payout ratio is currently 4.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Freedom Capital upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Wells Fargo & Company set a $417.00 price objective on Alphabet and gave the company an "overweight" rating in a report on Tuesday, October 6th. Piper Sandler increased their target price on Alphabet from $395.00 to $400.00 and gave the company an "overweight" rating in a research note on Monday, September 28th. Cantor Fitzgerald reissued an "overweight" rating and issued a $420.00 target price (down from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Finally, HSBC set a $515.00 target price on Alphabet in a report on Friday, August 14th. Six research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $422.10.

About Alphabet

Alphabet Inc is a technology holding company best known as the parent company of Google. Established in 2015 through a corporate restructuring, Alphabet oversees Google and a collection of businesses focused on technology, innovation and emerging industries. Sundar Pichai serves as Alphabet's chief executive officer and also leads Google.

Google is Alphabet's primary business and operates an internet ecosystem that includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.

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