Jennison Associates LLC Has $4.95 Billion Stock Position in Alphabet Inc. $GOOG

Key Points

• Jennison Associates trimmed its Alphabet position by 2.1% in the second quarter, selling 303,257 shares but retaining 14.01 million shares valued at approximately $4.95 billion. Alphabet remains about 3% of the firm’s portfolio and its 10th-largest holding.
• Alphabet reported strong quarterly results, with earnings of $9.11 per share and revenue of $119.8 billion, surpassing analyst estimates; revenue increased 24.2% year over year.
• GOOG was trading at $343.54, while analysts maintained a consensus “Buy” rating and an average price target of $415.55. Alphabet also declared a quarterly dividend of $0.22 per share, yielding approximately 0.3%.

Jennison Associates LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,012,220 shares of the information services provider's stock after selling 303,257 shares during the quarter. Alphabet comprises about 3.0% of Jennison Associates LLC's holdings, making the stock its 10th largest position. Jennison Associates LLC owned 0.11% of Alphabet worth $4,950,938,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. First Dallas Securities Inc. raised its holdings in shares of Alphabet by 2.8% in the 2nd quarter. First Dallas Securities Inc. now owns 7,620 shares of the information services provider's stock valued at $2,692,000 after acquiring an additional 210 shares in the last quarter. Fire Capital Management LLC grew its holdings in shares of Alphabet by 137.3% during the second quarter. Fire Capital Management LLC now owns 8,648 shares of the information services provider's stock worth $3,056,000 after purchasing an additional 5,004 shares in the last quarter. Ranch Capital Advisors Inc. increased its position in shares of Alphabet by 14.1% in the second quarter. Ranch Capital Advisors Inc. now owns 6,842 shares of the information services provider's stock worth $2,417,000 after purchasing an additional 843 shares during the last quarter. One Degree Advisors Inc increased its position in shares of Alphabet by 1.4% in the second quarter. One Degree Advisors Inc now owns 4,470 shares of the information services provider's stock worth $1,599,000 after purchasing an additional 60 shares during the last quarter. Finally, Carl P. Sherr & Co. LLC raised its stake in Alphabet by 4.6% in the second quarter. Carl P. Sherr & Co. LLC now owns 12,389 shares of the information services provider's stock valued at $4,377,000 after purchasing an additional 548 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 0.1%

GOOG stock opened at $343.54 on Friday. Alphabet Inc. has a one year low of $197.46 and a one year high of $404.47. The company has a market capitalization of $4.20 trillion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 0.97 and a beta of 1.23. The company's 50 day moving average price is $352.09 and its two-hundred day moving average price is $339.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.87 by $6.24. The company had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm's quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.31 EPS. As a group, analysts predict that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's dividend payout ratio (DPR) is 4.42%.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director owned 1,481 shares of the company's stock, valued at approximately $545,941.03. The trade was a 41.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider owned 75,290 shares of the company's stock, valued at $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 451,945 shares of company stock worth $12,382,714 in the last ninety days. Corporate insiders own 12.99% of the company's stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway significantly increased its Alphabet position. Berkshire owned approximately 106 million shares worth $37.9 billion at the end of June after raising its stake by 83% during the second quarter. Alphabet is now Berkshire’s third-largest U.S.-listed equity holding, a notable vote of confidence under CEO Greg Abel. Berkshire Hathaway boosts Alphabet to a top three holding
• Positive Sentiment: Digital advertising estimates improved. July advertiser spending exceeded consensus expectations, supporting the outlook for Alphabet’s core advertising business. Alphabet also launched Gemini 3.7 Flash for coding and automated business workflows, potentially expanding monetization opportunities in enterprise AI. Internet stock advertising estimate revisions
• Positive Sentiment: Alphabet’s SpaceX investment has become a major unrealized asset. The company disclosed that its roughly $900 million investment in SpaceX is now worth about $94 billion, highlighting the value of Alphabet’s venture portfolio, although the gain does not directly represent operating revenue or cash flow. Alphabet’s SpaceX bet grows 100-fold
• Positive Sentiment: Other institutions also added exposure. UniSuper increased its GOOG and GOOGL holdings, while several major funds reported purchases, reinforcing the perception that Alphabet remains attractively valued after its recent pullback.
• Neutral Sentiment: Google expanded Gemini access in schools and introduced tools allowing users to remove visible watermarks from AI-generated content while retaining invisible SynthID protections. These moves could improve adoption but have uncertain near-term financial effects. Google turns on Gemini AI for students
• Negative Sentiment: Gemini lost chatbot-visit share to ChatGPT in July. Although Gemini surpassed one billion monthly active users, its share of chatbot visits fell to 28.8%, raising concerns about competitive momentum in consumer AI.
• Negative Sentiment: AI investment is pressuring cash flow. Analysts continue to flag Alphabet’s very high data-center and chip spending, with some estimates showing weaker free-cash-flow generation than Microsoft and Meta in 2027.
• Negative Sentiment: Several funds reduced Alphabet positions. Barclays, Franklin Resources, Magellan and other managers reported trimming GOOG or GOOGL holdings, partially offsetting Berkshire’s large purchase. Alphabet also faces reputational risk from a reported Google-ad phishing scam and a law-firm investigation of investor claims.

Analyst Ratings Changes

A number of equities analysts have commented on GOOG shares. Barclays reissued an "overweight" rating and issued a $425.00 price target (up from $405.00) on shares of Alphabet in a research note on Thursday, July 23rd. DZ Bank raised shares of Alphabet to a "strong-buy" rating in a report on Thursday, July 23rd. BMO Capital Markets upped their target price on shares of Alphabet from $455.00 to $465.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Truist Financial reduced their target price on Alphabet from $430.00 to $420.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Alphabet from $460.00 to $420.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. Six research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $415.55.

Alphabet Profile

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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