Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Raised by Provident Investment Management Inc.

Provident Investment Management Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,876.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 492,055 shares of the information services provider’s stock after purchasing an additional 467,158 shares during the quarter. Alphabet comprises about 6.1% of Provident Investment Management Inc.’s investment portfolio, making the stock its 2nd largest position. Provident Investment Management Inc.’s holdings in Alphabet were worth $47,311,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. DC Investments Management LLC bought a new position in Alphabet during the first quarter valued at $115,000. Guardian Wealth Management Inc. bought a new position in Alphabet during the first quarter valued at $184,000. Turim 21 Investimentos Ltda. increased its position in Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares during the last quarter. qPULA Trading Management LP bought a new position in Alphabet during the first quarter valued at $279,000. Finally, Global Assets Advisory LLC bought a new position in Alphabet during the second quarter valued at $241,000. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,008,412. The disclosure for this sale can be found here. Insiders sold 36,745 shares of company stock valued at $3,424,078 in the last three months. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

GOOG stock opened at $96.55 on Thursday. The firm has a market cap of $1.24 trillion, a price-to-earnings ratio of 21.22, a PEG ratio of 1.26 and a beta of 1.09. The firm has a 50-day simple moving average of $95.12 and a two-hundred day simple moving average of $96.84. Alphabet Inc. has a one year low of $83.45 and a one year high of $144.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GOOG shares. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a report on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 price target on shares of Alphabet in a report on Thursday, February 9th. Bank of America upped their price target on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Piper Sandler cut their price target on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Finally, Societe Generale cut their price target on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $137.13.

Alphabet Profile

(Get Rating)

Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.