Jennison Associates LLC Has $4.11 Billion Position in Alphabet Inc. $GOOG

Jennison Associates LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,315,477 shares of the information services provider's stock after selling 259,714 shares during the period. Alphabet makes up 2.8% of Jennison Associates LLC's portfolio, making the stock its 9th largest holding. Jennison Associates LLC owned approximately 0.12% of Alphabet worth $4,106,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Vanguard Group Inc. grew its position in Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock worth $132,114,125,000 after purchasing an additional 8,128,234 shares during the last quarter. State Street Corp raised its position in shares of Alphabet by 0.5% during the fourth quarter. State Street Corp now owns 187,102,863 shares of the information services provider's stock valued at $58,712,878,000 after buying an additional 953,790 shares during the last quarter. Auto Owners Insurance Co raised its position in shares of Alphabet by 38,409.2% during the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider's stock valued at $5,643,262,000 after buying an additional 179,369,280 shares during the last quarter. J. Stern & Co. LLP raised its position in shares of Alphabet by 28,482.8% during the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock valued at $35,174,429,000 after buying an additional 111,699,704 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 1.1% in the fourth quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider's stock valued at $31,569,189,000 after buying an additional 1,073,151 shares during the period. Institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the sale, the director owned 18,833 shares of the company's stock, valued at $6,615,656.24. This represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 159,415 shares of company stock valued at $7,672,279 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 1.5%

Shares of GOOG opened at $346.19 on Wednesday. The company has a market capitalization of $4.19 trillion, a P/E ratio of 26.41, a PEG ratio of 1.45 and a beta of 1.23. Alphabet Inc. has a one year low of $188.49 and a one year high of $404.47. The business's 50 day simple moving average is $364.83 and its 200-day simple moving average is $337.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.96 billion. During the same period last year, the firm posted $2.81 EPS. The business's revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 14.33 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio is 6.71%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is reportedly building a custom AI server chip, “Frozen v2,” to run Gemini more efficiently and reduce compute costs, which could improve long-term margins and support cloud growth.
• Positive Sentiment: Alphabet released new Gemini model variants, including cheaper and cybersecurity-focused versions, signaling continued AI product progress ahead of earnings.
• Positive Sentiment: Analysts remain broadly constructive into earnings, with expectations for strong revenue growth and continued strength in Search and Google Cloud.
• Neutral Sentiment: Options traders are pricing in a meaningful post-earnings move, suggesting the stock could react sharply to Wednesday’s results either way.
• Neutral Sentiment: Senator Jerry Moran disclosed a purchase of GOOG shares, a modest signal of insider confidence but not a major market-moving catalyst.
• Negative Sentiment: Investors remain concerned about Alphabet’s large AI and data-center spending, and the delayed Gemini Pro launch is adding to questions about execution and AI payoff.
• Negative Sentiment: Ongoing securities-fraud investigations create additional headline risk and may weigh on sentiment ahead of earnings.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOOG. Citigroup reissued a "market outperform" rating on shares of Alphabet in a research report on Monday, June 22nd. Wedbush assumed coverage on Alphabet in a research report on Thursday, July 16th. They issued an "outperform" rating and a $445.00 price objective for the company. Oppenheimer raised their price objective on Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on Alphabet from $395.00 to $460.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Buy" and an average target price of $383.44.

About Alphabet

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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