Jennison Associates LLC Has $3.02 Billion Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Jennison Associates LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,183,524 shares of the information services provider’s stock after buying an additional 1,630,556 shares during the quarter. Alphabet accounts for about 1.9% of Jennison Associates LLC’s investment portfolio, making the stock its 12th biggest holding. Jennison Associates LLC’s holdings in Alphabet were worth $3,015,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC raised its position in shares of Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC increased its stake in Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares during the period. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. First PREMIER Bank lifted its position in shares of Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 61 shares during the period. Finally, Cutler Investment Counsel LLC grew its holdings in shares of Alphabet by 1.7% during the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,624 shares of company stock worth $27,803,730. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GOOGL. Loop Capital boosted their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. KeyCorp upped their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Down 0.1 %

Shares of NASDAQ:GOOGL opened at $171.34 on Wednesday. The stock has a market cap of $2.10 trillion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.22 and a beta of 1.01. The business’s 50 day moving average is $168.84 and its 200 day moving average is $170.26. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the business posted $1.55 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Alphabet Profile

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.