Alphabet Inc. $GOOG Shares Acquired by Provenance Wealth Advisors LLC

Key Points

• Provenance Wealth Advisors increased its Alphabet stake by 625.3% in the third quarter, adding 17,871 shares to hold 20,729 shares valued at about $7.1 million.
• Alphabet’s latest quarterly results missed analyst estimates: EPS was $2.12 versus $3.01 expected, and revenue was $127.58 billion versus $127.97 billion expected. Revenue still grew 24.7% year over year, while the stock was reported down 1.9%.
• Alphabet declared a quarterly dividend of $0.22 per share, equivalent to an annualized yield of 0.3%. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $413.38.

Provenance Wealth Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 625.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,729 shares of the information services provider's stock after purchasing an additional 17,871 shares during the quarter. Provenance Wealth Advisors LLC's holdings in Alphabet were worth $7,063,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Ackerman Capital Advisors LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $265,000. One Day In July LLC raised its stake in shares of Alphabet by 1.6% in the third quarter. One Day In July LLC now owns 9,099 shares of the information services provider's stock valued at $3,100,000 after purchasing an additional 146 shares in the last quarter. RFG Holdings Inc. raised its stake in shares of Alphabet by 0.7% in the third quarter. RFG Holdings Inc. now owns 11,422 shares of the information services provider's stock valued at $3,892,000 after purchasing an additional 83 shares in the last quarter. Hughes Financial Services LLC raised its stake in shares of Alphabet by 5.9% in the third quarter. Hughes Financial Services LLC now owns 2,758 shares of the information services provider's stock valued at $940,000 after purchasing an additional 154 shares in the last quarter. Finally, Lyell Wealth Management LP lifted its position in Alphabet by 8.9% in the third quarter. Lyell Wealth Management LP now owns 276,741 shares of the information services provider's stock worth $94,297,000 after purchasing an additional 22,605 shares during the period. 27.26% of the stock is owned by institutional investors.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is backing financing for TeraWulf’s data-center project tied to Anthropic’s long-term leases. The support could help secure infrastructure for AI demand, though it also exposes Google to a contingent commitment if Anthropic defaults. Article: Google's Credit Backstop May Be TeraWulf's Biggest Advantage
• Positive Sentiment: Waymo plans to expand its robotaxi fleet in Nashville by year-end, offering a potential growth signal for Alphabet’s autonomous-driving business. Article: Lyft to expand Waymo robotaxi fleet in Nashville by year-end
• Negative Sentiment: Google, Meta and TikTok sued California’s attorney general to block a law restricting features deemed addictive for under-16 users. The dispute adds regulatory uncertainty and scrutiny of Google’s services for young people. Article: Meta, Google, and TikTok sue California AG over teen social media law
• Negative Sentiment: Parents have sued Google, alleging a student used an AI chat on a school Chromebook while planning a suicide attempt. The claim is unproven, but it could heighten concerns about AI safety, liability and reputational risk. Article: Google faces claims student used AI chat on US school laptop to plan suicide attempt
• Negative Sentiment: Several law firms publicized a securities class action concerning investors who bought Alphabet shares from May 19 to July 16, alleging misleading statements about Gemini 3.5 Pro’s launch timing. The allegations have not been proven, but add legal overhang. Article: Rosen Law Firm investor notice

Alphabet Trading Down 1.9%

GOOG stock opened at $281.74 on Friday. Alphabet Inc. has a 1-year low of $271.41 and a 1-year high of $404.47. The firm has a market cap of $3.45 trillion, a P/E ratio of 14.70, a P/E/G ratio of 0.87 and a beta of 1.21. The business's 50 day moving average is $330.86 and its 200-day moving average is $337.20. The company has a current ratio of 2.79, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.01 by ($0.89). The company had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.97 billion. Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The company's quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.87 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 19.80 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 83 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the transaction, the director directly owned 19,076 shares in the company, valued at $6,494,424.20. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 247 shares of company stock valued at $79,238 in the last quarter. Corporate insiders own 12.99% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. China Renaissance decreased their price target on shares of Alphabet from $485.00 to $445.00 and set a "buy" rating on the stock in a research note on Friday, July 24th. Canaccord Genuity Group set a $450.00 price target on shares of Alphabet in a report on Thursday, July 23rd. Susquehanna restated a "positive" rating and issued a $400.00 price objective on shares of Alphabet in a research note on Thursday, October 29th. Rosenblatt Securities initiated coverage on shares of Alphabet in a report on Thursday, August 20th. They set a "buy" rating for the company. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Alphabet in a report on Monday, August 3rd. Six research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $413.38.

About Alphabet

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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