Jennison Associates LLC Has $6.72 Billion Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Jennison Associates reduced its Alphabet stake by 5.3% in the second quarter, selling 1.05 million shares. It still held 18.81 million shares worth approximately $6.72 billion, representing 4% of its portfolio.
• Other major investors made significant moves, with Norges Bank initiating a roughly $30.5 billion position and Vanguard increasing its stake 2.4%. Institutional investors and hedge funds collectively own about 40% of Alphabet.
• Alphabet’s outlook remains broadly positive: analysts maintain an overall “Buy” rating with an average price target of $420.19, while strong earnings and Google Cloud growth support the case. Risks include rising AI infrastructure costs, custom-chip competition, legal issues and insider selling.

Jennison Associates LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,809,377 shares of the information services provider's stock after selling 1,046,633 shares during the period. Alphabet comprises 4.0% of Jennison Associates LLC's portfolio, making the stock its 5th largest holding. Jennison Associates LLC owned approximately 0.15% of Alphabet worth $6,721,907,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Alphabet in the fourth quarter valued at about $30,534,239,000. Cardano Risk Management B.V. lifted its stake in Alphabet by 855.3% during the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider's stock worth $4,546,413,000 after purchasing an additional 13,004,828 shares during the period. Vanguard Group Inc. lifted its stake in Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. Capital World Investors boosted its holdings in Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock valued at $12,910,542,000 after purchasing an additional 11,605,785 shares in the last quarter. Finally, Diamant Asset Management Inc. boosted its holdings in Alphabet by 28,950.0% during the first quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider's stock valued at $2,671,986,000 after purchasing an additional 9,259,940 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of Alphabet stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total value of $2,232,808.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 8,998 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 451,945 shares of company stock worth $12,382,714 over the last ninety days. Company insiders own 11.61% of the company's stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Analyst remains bullish: Rosenblatt Securities reaffirmed its “buy” rating and set a $410 price target, implying substantial upside from the recent trading level. Analyst Scott Devitt also expects Alphabet to reach a new all-time high over the next 12 months. Rosenblatt rating
• Positive Sentiment: AI infrastructure and cloud growth remain key positives: Google Cloud reportedly grew revenue 82% year over year in the latest quarter, while Alphabet’s partnership with Marvell expands access to custom AI accelerators, networking, storage, and memory technologies connected to Google’s TPU ecosystem. The deal could improve supply-chain flexibility and support long-term AI capacity. Marvell Google AI chip deal
• Positive Sentiment: Waymo is expanding commercially: Alphabet’s autonomous-driving unit opened its lower-cost next-generation robotaxi to all riders in Los Angeles, Phoenix, and San Francisco, potentially improving the economics and scalability of the business. Waymo robotaxi expansion
• Neutral Sentiment: Google introduced a “favorite source” feature that lets users prioritize publishers in Search, Discover, and Google News. The move may help preserve publisher relationships and search content quality, but its effect on revenue is uncertain. Google publisher feature
• Neutral Sentiment: Alphabet is reportedly raising approximately $3.9 billion through its first Australian-dollar bond sale. The financing could support AI infrastructure investment, though it also underscores the capital intensity of the company’s expansion plans. Alphabet Australian dollar bond
• Negative Sentiment: Custom-chip competition is increasing: Marvell’s agreement and potential $12.2 billion warrant give Google an incentive to direct more purchases toward Marvell, raising concerns that Broadcom’s previously dominant role in Google’s TPU ecosystem could be diluted. While diversification may benefit Google over time, investors may view the deal as evidence that AI spending will require heavier investment and a more complex supply chain.
• Negative Sentiment: Legal and execution risks remain: A court delayed approval of Google’s proposed purchase of Spirit Airlines’ internal data after union objections, while Micro1 is offering more than Google’s reported $10 million bid. Separately, the departure of longtime AI leader Jeff Dean and expectations that the flagship Gemini Pro release may be delayed into the autumn add to investor uncertainty. Spirit Airlines data sale delay
• Negative Sentiment: A law firm announced an investigation into potential claims on behalf of Alphabet investors, creating an additional headline risk, although no allegations or financial impact were established in the announcement. Alphabet investor investigation

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Citizens Jmp reissued a "market outperform" rating and issued a $515.00 target price on shares of Alphabet in a report on Wednesday, July 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $420.00 price target (down from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Rothschild & Co Redburn upped their price target on Alphabet from $390.00 to $430.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. CICC Research increased their price objective on Alphabet from $388.00 to $407.91 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $390.00 price objective (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $420.19.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $340.67 on Friday. The stock has a market capitalization of $4.17 trillion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1 year low of $199.43 and a 1 year high of $408.61. The firm has a 50 day moving average of $352.30 and a 200-day moving average of $341.34.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The business had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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