Alphabet Inc. $GOOG is Provident Investment Management Inc.'s 3rd Largest Position

Key Points

• Provident Investment Management trimmed its Alphabet stake by 4.6% in the fourth quarter, but GOOG remains its 3rd-largest holding, worth about $71.0 million and representing 6.5% of its portfolio.
• Alphabet reported better-than-expected Q1 results, with EPS of $5.11 versus $2.68 expected and revenue of $109.9 billion, up 21.8% year over year.
• Analysts remain generally constructive, with a consensus “Buy” rating and target price of $372.65, even as insider selling and Waymo-related safety/regulatory issues create some short-term headline risk.

Provident Investment Management Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 226,338 shares of the information services provider's stock after selling 11,018 shares during the period. Alphabet accounts for about 6.5% of Provident Investment Management Inc.'s investment portfolio, making the stock its 3rd biggest holding. Provident Investment Management Inc.'s holdings in Alphabet were worth $71,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Tradewinds LLC. increased its stake in Alphabet by 2,134.8% during the 3rd quarter. Tradewinds LLC. now owns 45,098 shares of the information services provider's stock valued at $10,984,000 after purchasing an additional 43,080 shares in the last quarter. Kathmere Capital Management LLC increased its stake in Alphabet by 8.5% during the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock valued at $9,381,000 after purchasing an additional 2,341 shares in the last quarter. Atlantic Union Bankshares Corp increased its stake in Alphabet by 31.3% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 354,529 shares of the information services provider's stock valued at $86,345,000 after purchasing an additional 84,553 shares in the last quarter. Baltimore Washington Financial Advisors Inc. increased its stake in Alphabet by 0.9% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider's stock valued at $53,920,000 after purchasing an additional 2,009 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its stake in Alphabet by 7.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock valued at $19,060,000 after purchasing an additional 4,239 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOG has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $395.00 to $460.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Raymond James Financial restated a "strong-buy" rating and set a $425.00 price objective on shares of Alphabet in a research note on Thursday, April 30th. Freedom Capital lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Needham & Company LLC set a $400.00 price objective on shares of Alphabet and gave the company a "buy" rating in a research note on Friday, March 13th. Finally, Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, April 15th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $372.65.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 102 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $371.00, for a total transaction of $37,842.00. Following the completion of the sale, the director directly owned 18,621 shares in the company, valued at approximately $6,908,391. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 8,993 shares of the business's stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the sale, the insider owned 51,808 shares of the company's stock, valued at $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 226,481 shares of company stock valued at $27,422,061 in the last three months. Corporate insiders own 12.99% of the company's stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google I/O 2026 highlighted new AI products, smarter Search, Gemini upgrades, AI ad tools, and agentic features that could boost Alphabet’s monetization across ads, cloud, and consumer services.
• Positive Sentiment: Bank of America, UBS and other analysts reiterated bullish views after the AI showcase, reinforcing confidence that Alphabet can turn AI adoption into revenue growth.
• Positive Sentiment: Alphabet’s new financing and infrastructure moves, including the yen note sale and Missouri data-center investment, support long-term AI capacity expansion.
• Neutral Sentiment: Alphabet continues to receive mixed commentary around valuation and market expectations after a sharp rally, which may limit near-term upside.
• Negative Sentiment: Waymo suspended freeway robotaxi rides and paused Atlanta operations while fixing safety issues in construction zones and flooded roads, creating headline risk for Alphabet.
• Negative Sentiment: Fresh insider selling by a director and additional regulatory/labor complaints in Europe add some short-term pressure and sentiment risk.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $383.47 on Friday. The firm has a 50 day moving average of $334.12 and a 200 day moving average of $320.40. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.65 trillion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 1.65 and a beta of 1.25. Alphabet Inc. has a 12-month low of $163.33 and a 12-month high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.81 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet's dividend payout ratio (DPR) is presently 6.41%.

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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