Jennison Associates LLC Sells 1,046,633 Shares of Alphabet Inc. $GOOGL

Jennison Associates LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,809,377 shares of the information services provider’s stock after selling 1,046,633 shares during the quarter. Alphabet makes up approximately 4.0% of Jennison Associates LLC’s holdings, making the stock its 5th biggest holding. Jennison Associates LLC’s holdings in Alphabet were worth $6,721,907,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GOOGL. Lifetime Wealth Management P.C. bought a new position in Alphabet in the fourth quarter valued at approximately $32,000. EMC Capital Management acquired a new position in shares of Alphabet in the 4th quarter valued at $33,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $38,000. Bard Associates Inc. bought a new position in shares of Alphabet in the 4th quarter worth $52,000. Finally, iSAM Funds UK Ltd bought a new position in shares of Alphabet in the 3rd quarter worth $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction on 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. The trade was a 10.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the completion of the sale, the chief accounting officer directly owned 27,386 shares in the company, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 451,945 shares of company stock valued at $12,382,714 over the last ninety days. 11.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent analyst reports. Oppenheimer upped their price objective on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Bank of America raised their target price on Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. DA Davidson set a $350.00 target price on Alphabet and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $390.00 price target (up from $345.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Stifel Nicolaus set a $420.00 price target on shares of Alphabet and gave the company a “buy” rating in a research report on Thursday, April 30th. Five analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $420.19.

Alphabet Stock Down 1.2%

GOOGL stock opened at $340.67 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The stock has a market capitalization of $4.17 trillion, a P/E ratio of 17.11, a P/E/G ratio of 0.97 and a beta of 1.24. Alphabet Inc. has a fifty-two week low of $199.43 and a fifty-two week high of $408.61. The business has a 50-day moving average of $352.30 and a 200-day moving average of $341.34.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. The business had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. On average, sell-side analysts anticipate that Alphabet Inc. will post 20.51 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 14th. Stockholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend 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 currently 4.42%.

More Alphabet News

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

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.