Alphabet Inc. $GOOG Stock: Provident Trust Co. Cuts Stake

Provident Trust Co. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 30.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,533,632 shares of the information services provider’s stock after selling 667,956 shares during the period. Alphabet accounts for about 16.2% of Provident Trust Co.’s investment portfolio, making the stock its 2nd largest position. Provident Trust Co.’s holdings in Alphabet were worth $522,570,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GOOG. Denali Advisors LLC raised its stake in Alphabet by 14.8% during the 2nd quarter. Denali Advisors LLC now owns 105,988 shares of the information services provider’s stock valued at $37,449,000 after purchasing an additional 13,700 shares during the period. Heck Capital Advisors LLC grew its holdings in Alphabet by 298.2% during the 2nd quarter. Heck Capital Advisors LLC now owns 22,229 shares of the information services provider’s stock valued at $7,854,000 after buying an additional 16,647 shares in the last quarter. Montchanin Asset Management LLC bought a new stake in shares of Alphabet during the first quarter valued at approximately $7,075,000. NBT Bank N.A. purchased a new position in shares of Alphabet in the third quarter worth $47,537,000. Finally, Sax Wealth Advisors LLC lifted its holdings in shares of Alphabet by 13.3% in the second quarter. Sax Wealth Advisors LLC now owns 30,489 shares of the information services provider’s stock worth $10,773,000 after buying an additional 3,575 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 3.2%

Shares of NASDAQ GOOG opened at $287.30 on Thursday. The firm’s 50-day moving average price is $332.01 and its 200-day moving average price is $337.44. The company has a current ratio of 2.79, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.51 trillion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 0.84 and a beta of 1.21. Alphabet Inc. has a 12-month low of $271.41 and a 12-month high of $404.47.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.01 by ($0.89). The company had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.97 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. Alphabet’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.87 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 19.80 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, December 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 7th. Alphabet’s dividend payout ratio is presently 4.59%.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 83 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director directly owned 19,076 shares in the company, valued at $6,494,424.20. This trade represents a 0.43% 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. Insiders sold 247 shares of company stock valued at $79,238 in the last ninety days. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GOOG shares. Benchmark reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday, October 29th. Freedom Capital upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Tigress Financial increased their price objective on shares of Alphabet from $415.00 to $485.00 and gave the company a “strong-buy” rating in a report on Friday, September 18th. DZ Bank upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Moffett Nathanson cut their price objective on Alphabet from $380.00 to $370.00 and set a “buy” rating for the company in a research report on Wednesday, September 16th. Six research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $413.38.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI momentum: A venture-capital investor ranked Alphabet’s Gemini as the leading AI model, supporting optimism about the company’s ability to compete in AI and potentially attract usage and spending. Top VC: The Best AI Models Take “80% Plus” of Spend. And Alphabet’s Gemini Just Ranked No. 1
• Positive Sentiment: Long-term infrastructure growth: Google plans to invest $15 billion in Malaysia over two years to expand data-center capacity and support regional AI and cloud demand. The investment could help grow future revenue, though it adds to near-term capital needs. Google to Invest $15 Billion in Malaysia Over Two Years
• Neutral Sentiment: Election-driven rally: Reports attributed the rebound in Alphabet and other mega-cap technology shares to a broad post-election market rally. The result may have eased some near-term concern about data-center policy, although regulatory uncertainty remains. Why Alphabet Stock Popped on Wednesday
• Negative Sentiment: Heavy AI investment weighs on cash flow: Recent coverage highlighted declining free cash flow and rising infrastructure costs, tempering the growth story. Investors remain focused on whether cloud and AI returns will justify the spending. Alphabet’s Free Cash Flow Is Declining Faster Than Analysts Expected
• Negative Sentiment: School Search policy backlash and litigation: Google’s plan tying school access to Search with AI settings drew criticism from politicians and prompted competing search services to target schools. Separately, a securities class action alleges investors were misled about Gemini 3.5 Pro’s progress; the claims are allegations, but add legal and reputational uncertainty. Google faces backlash for plan that would turn off Search for schools that restrict AI

Alphabet Profile

Alphabet Inc is a technology holding company best known as the parent organization of Google. Founded in 2015 through a corporate restructuring, Alphabet oversees Google and a collection of businesses focused on technology, online services, communications, artificial intelligence, and other emerging areas.

Google’s principal products and services include its internet search engine, digital advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play, and Google Workspace. The company also provides cloud computing, data storage, cybersecurity, productivity, and artificial intelligence services through Google Cloud.