Jennison Associates LLC Has $3.07 Billion Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Jennison Associates LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 10.7% in the fourth quarter, HoldingsChannel reports. The firm owned 16,229,497 shares of the information services provider’s stock after selling 1,954,027 shares during the period. Alphabet accounts for about 1.9% of Jennison Associates LLC’s investment portfolio, making the stock its 11th biggest holding. Jennison Associates LLC’s holdings in Alphabet were worth $3,072,244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schear Investment Advisers LLC increased its holdings in shares of Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares during the period. Landscape Capital Management L.L.C. grew its position in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after purchasing an additional 5,516 shares in the last quarter. abrdn plc increased its stake in Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares during the period. StoneCrest Wealth Management Inc. lifted its position in Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after buying an additional 140 shares in the last quarter. Finally, Olistico Wealth LLC boosted its stake in shares of Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after buying an additional 746 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on GOOGL. JPMorgan Chase & Co. dropped their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Morgan Stanley lowered their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Bank of America restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Finally, Citigroup cut their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $210.62.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,529 shares of company stock worth $16,600,078. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $183.61 on Thursday. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $207.05. The company has a market capitalization of $2.25 trillion, a P/E ratio of 22.81, a P/E/G ratio of 1.39 and a beta of 0.99. The stock has a 50 day moving average of $192.18 and a two-hundred day moving average of $174.89. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities analysts expect that Alphabet Inc. will post 8.91 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Alphabet Company 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.