Provident Trust Co. Has $1.01 Billion Stock Position in Alphabet Inc. $GOOG

Provident Trust Co. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,226,879 shares of the information services provider’s stock after selling 201,242 shares during the quarter. Alphabet makes up approximately 16.9% of Provident Trust Co.’s holdings, making the stock its biggest position. Provident Trust Co.’s holdings in Alphabet were worth $1,012,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Imprint Wealth LLC bought a new position in Alphabet in the 3rd quarter worth approximately $31,000. Manning & Napier Advisors LLC bought a new position in shares of Alphabet during the 3rd quarter valued at approximately $32,000. Nvest Wealth Strategies Inc. bought a new position in shares of Alphabet during the 4th quarter valued at approximately $38,000. Towne Trust Company N.A boosted its position in shares of Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 34 shares during the last quarter. Finally, Lynch Asset Management Inc. bought a new position in shares of Alphabet during the 3rd quarter valued at approximately $61,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 4.0%

Shares of GOOG opened at $399.06 on Thursday. The company has a market cap of $4.84 trillion, a PE ratio of 30.44, a P/E/G ratio of 1.64 and a beta of 1.25. The business has a fifty day moving average of $323.77 and a 200 day moving average of $315.48. Alphabet Inc. has a 52-week low of $160.93 and a 52-week high of $399.93. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.Alphabet’s revenue was up 21.8% on a year-over-year basis. During the same period last year, the company earned $2.81 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 14.28 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, June 8th. Alphabet’s dividend payout ratio is 6.41%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google unveiled a broader AI push at its Android event, including Gemini-powered features, new “Googlebooks” laptops, and agentic AI tools, reinforcing the company’s leadership in AI and mobile ecosystems.
• Positive Sentiment: Reports that Google is discussing orbital data centers with SpaceX have sparked investor excitement about a potential long-term infrastructure advantage in AI and cloud computing. Report: Google and SpaceX in talks to put data centers into orbit
• Positive Sentiment: Alphabet continues to attract bullish analyst and investor attention after strong Q1 results and ongoing cloud/AI growth, supporting the case for additional upside. Alphabet: The A-Z AI Play Set To Profit From The Whole Industry
• Positive Sentiment: Several large investors disclosed higher stakes in Alphabet, including Capital World Investors and other institutions, which can reinforce confidence in the stock’s long-term fundamentals.
• Neutral Sentiment: One fund update showed a large reduction in GOOG holdings by Capital International Investors, but this appears to be portfolio rebalancing rather than a direct company-specific warning.
• Negative Sentiment: Alphabet still faces regulatory pressure in Europe, including efforts to avoid an EU antitrust fine tied to spam-policy changes and broader DMA compliance concerns.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total value of $10,006,425.00. Following the completion of the sale, the chief executive officer owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. The trade was a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 158,553 shares of company stock valued at $47,951,856 over the last 90 days. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on GOOG shares. Scotiabank reiterated an “outperform” rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Wedbush reiterated an “outperform” rating and set a $370.00 target price on shares of Alphabet in a research report on Thursday, February 5th. Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Piper Sandler reiterated an “overweight” rating and set a $395.00 target price on shares of Alphabet in a research report on Thursday, February 5th. Finally, Wells Fargo & Company upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $362.73.

Alphabet Company 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.