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Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Jennison Associates LLC

Alphabet logo with Computer and Technology background

Jennison Associates LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,469,948 shares of the information services provider's stock after buying an additional 240,451 shares during the period. Alphabet makes up about 1.8% of Jennison Associates LLC's portfolio, making the stock its 12th largest position. Jennison Associates LLC owned approximately 0.14% of Alphabet worth $2,546,913,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Markel Group Inc. grew its stake in shares of Alphabet by 0.4% in the 1st quarter. Markel Group Inc. now owns 557,000 shares of the information services provider's stock worth $86,134,000 after acquiring an additional 2,000 shares in the last quarter. Sachetta LLC grew its stake in shares of Alphabet by 46.9% in the 1st quarter. Sachetta LLC now owns 4,482 shares of the information services provider's stock worth $693,000 after acquiring an additional 1,431 shares in the last quarter. Mystic Asset Management Inc. grew its stake in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Hardy Reed LLC grew its stake in shares of Alphabet by 0.6% in the 1st quarter. Hardy Reed LLC now owns 50,972 shares of the information services provider's stock worth $7,882,000 after acquiring an additional 311 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its position in Alphabet by 10.8% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,671,841 shares of the information services provider's stock valued at $258,533,000 after buying an additional 162,551 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Down 0.9%

GOOGL stock traded down $1.72 during trading on Monday, reaching $191.46. 10,084,162 shares of the company traded hands, compared to its average volume of 36,871,352. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The business has a 50 day simple moving average of $175.77 and a 200 day simple moving average of $172.79. The company has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.31 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the company earned $1.89 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOOGL shares. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a research report on Friday, June 27th. KeyCorp increased their price target on shares of Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research report on Thursday. Guggenheim increased their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Jefferies Financial Group reduced their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Citigroup upped their price objective on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.32.

View Our Latest Stock Report on Alphabet

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 400 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the transaction, the director directly owned 6,013 shares in the company, valued at $1,094,245.74. This trade represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated 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 approximately $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,409 shares of company stock worth $43,523,710. 11.64% of the stock is owned by insiders.

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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