Provident Trust Co. Has $527.85 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Provident Trust Co. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,413,421 shares of the information services provider's stock after selling 31,427 shares during the quarter. Alphabet makes up 9.9% of Provident Trust Co.'s portfolio, making the stock its 3rd largest holding. Provident Trust Co.'s holdings in Alphabet were worth $527,851,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in shares of Alphabet during the 4th quarter valued at $24,383,677,000. FMR LLC increased its holdings in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC increased its holdings in Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares during the last quarter. Northern Trust Corp increased its holdings in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after acquiring an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock valued at $43,523,710 in the last three months. Company insiders own 11.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOGL. Barclays lifted their price target on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Thursday. Wedbush lifted their price target on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday. JMP Securities lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a report on Thursday. Needham & Company LLC lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday. Finally, Rosenblatt Securities lifted their price target on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday. Ten investment 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $211.32.

Alphabet Trading Up 0.4%

Alphabet stock traded up $0.80 during trading hours on Friday, hitting $192.97. The company had a trading volume of 13,100,900 shares, compared to its average volume of 36,861,688. The firm has a market cap of $2.34 trillion, a P/E ratio of 20.55, a P/E/G ratio of 1.33 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a 50-day moving average price of $175.23 and a two-hundred day moving average price of $173.10.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 31.12% and a return on equity of 35.22%. During the same period in the previous year, the company earned $1.89 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

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.