Provident Investment Management Inc. Has $1.36 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Provident Investment Management Inc. increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,794 shares of the information services provider’s stock after purchasing an additional 80 shares during the period. Provident Investment Management Inc.’s holdings in Alphabet were worth $1,360,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nia Impact Advisors LLC lifted its stake in shares of Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock valued at $3,249,000 after purchasing an additional 59 shares during the last quarter. Hanlon Investment Management Inc. lifted its stake in shares of Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider’s stock valued at $673,000 after purchasing an additional 60 shares during the last quarter. Enzi Wealth lifted its stake in shares of Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 62 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in shares of Alphabet by 1.2% in the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider’s stock valued at $817,000 after purchasing an additional 67 shares during the last quarter. Finally, Aspire Capital Advisors LLC lifted its stake in shares of Alphabet by 1.0% in the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider’s stock valued at $1,086,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GOOGL shares. Guggenheim lifted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Barclays lifted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Royal Bank Of Canada lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their price target on shares of Alphabet from $184.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Finally, Citizens Jmp upgraded shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target for the company in a report on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.53.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,219 shares of company stock valued at $49,674,273. 11.64% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $201.96 on Thursday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock has a market cap of $2.44 trillion, a PE ratio of 21.51, a PEG ratio of 1.37 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm’s 50 day moving average price is $182.95 and its two-hundred day moving average price is $173.22.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96,428,000 billion for the quarter, compared to analysts’ expectations of $93.60 billion. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

About Alphabet

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.