Alphabet Inc. $GOOG Holdings Trimmed by Provident Trust Co.

Key Points

• Provident Trust cut its Alphabet stake by 30.3% in the third quarter, selling 667,956 shares. It retained 1.53 million shares worth about $522.6 million, still its second-largest holding.
• Alphabet’s latest quarterly results missed analyst expectations: EPS was $2.12 versus a $3.01 consensus, while revenue of $127.58 billion was slightly below forecasts but rose 24.7% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $413.38. Alphabet also declared a quarterly dividend of $0.22 per share, equivalent to a 0.3% yield.

Provident Trust Co. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 30.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,533,632 shares of the information services provider's stock after selling 667,956 shares during the quarter. Alphabet makes up 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Hollow Brook Wealth Management LLC lifted its position in Alphabet by 3.0% in the third quarter. Hollow Brook Wealth Management LLC now owns 11,568 shares of the information services provider's stock valued at $3,942,000 after purchasing an additional 333 shares during the last quarter. Traynor Capital Management Inc. increased its stake in shares of Alphabet by 1.2% in the third quarter. Traynor Capital Management Inc. now owns 64,253 shares of the information services provider's stock worth $21,894,000 after buying an additional 740 shares during the period. Dala Group LLC raised its position in Alphabet by 3.7% during the 3rd quarter. Dala Group LLC now owns 5,727 shares of the information services provider's stock valued at $1,951,000 after purchasing an additional 206 shares during the last quarter. Walled Lake Planning & Wealth Management LLC lifted its holdings in Alphabet by 18.8% in the 3rd quarter. Walled Lake Planning & Wealth Management LLC now owns 4,823 shares of the information services provider's stock worth $1,643,000 after buying an additional 764 shares during the period. Finally, Verus Financial Partners Inc. grew its position in shares of Alphabet by 6.9% in the 3rd quarter. Verus Financial Partners Inc. now owns 1,324 shares of the information services provider's stock worth $451,000 after buying an additional 86 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 3.2%

Alphabet stock opened at $287.30 on Thursday. The stock has a market cap of $3.51 trillion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79. Alphabet Inc. has a one year low of $271.41 and a one year high of $404.47. The stock has a fifty day moving average of $332.01 and a 200 day moving average of $337.44.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results 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 firm had revenue of $127.58 billion during the quarter, compared to analysts' expectations of $127.97 billion. Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The company'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 posted $2.87 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 19.80 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 7th. Alphabet's dividend payout ratio is 4.59%.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 83 shares of the firm's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the transaction, the director owned 19,076 shares of the company's stock, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 247 shares of company stock valued at $79,238. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the topic of a number of research reports. BMO Capital Markets set a $425.00 target price on shares of Alphabet in a research note on Thursday, October 29th. The Goldman Sachs Group decreased their price objective on Alphabet from $440.00 to $435.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. Benchmark reissued a "buy" rating on shares of Alphabet in a research report on Thursday, October 29th. Canaccord Genuity Group set a $450.00 target price on shares of Alphabet in a report on Thursday, July 23rd. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $350.00 target price on shares of Alphabet in a research report on Thursday, October 29th. Six equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $413.38.

Key Stories Impacting Alphabet

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.

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