Alphabet Inc. (NASDAQ:GOOGL) Holdings Decreased by Provident Trust Co.

Provident Trust Co. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,863,076 shares of the information services provider’s stock after selling 43,959 shares during the quarter. Alphabet comprises about 11.1% of Provident Trust Co.’s portfolio, making the stock its 2nd largest holding. Provident Trust Co.’s holdings in Alphabet were worth $539,633,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its position in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. Northern Trust Corp lifted its stake in Alphabet by 3.7% during the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after acquiring an additional 2,416,328 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Alphabet by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock valued at $4,453,856,000 after acquiring an additional 335,219 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Alphabet by 7.8% in the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after acquiring an additional 1,809,910 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Alphabet by 9.3% during the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock worth $3,159,669,000 after purchasing an additional 2,058,221 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $167.24 on Monday. The company’s 50-day moving average is $150.14 and its two-hundred day moving average is $142.36. Alphabet Inc. has a 1-year low of $103.97 and a 1-year high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The firm has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.28 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the firm posted $1.17 earnings per share. Analysts forecast that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.48%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares in the company, valued at $1,296,187.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now directly owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 275,129 shares of company stock worth $40,382,765. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Royal Bank of Canada increased their price target on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Redburn Atlantic lifted their price target on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Wedbush upped their price objective on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. UBS Group raised their price objective on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Susquehanna lifted their price objective on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

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.