Provident Investment Management Inc. Trims Position in Alphabet Inc. $GOOG

Provident Investment Management Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 237,356 shares of the information services provider’s stock after selling 10,463 shares during the period. Alphabet accounts for approximately 5.1% of Provident Investment Management Inc.’s holdings, making the stock its 6th biggest holding. Provident Investment Management Inc.’s holdings in Alphabet were worth $57,808,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOOG. Norges Bank acquired a new position in Alphabet in the second quarter worth about $4,298,572,000. JPMorgan Chase & Co. raised its stake in Alphabet by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock valued at $24,240,469,000 after buying an additional 7,904,434 shares in the last quarter. Vanguard Group Inc. raised its stake in Alphabet by 1.3% during the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock valued at $73,927,821,000 after buying an additional 5,182,111 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Alphabet by 73.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,808,152 shares of the information services provider’s stock worth $2,388,775,000 after buying an additional 4,154,929 shares during the last quarter. Finally, Laurel Wealth Advisors LLC lifted its holdings in Alphabet by 17,547.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock worth $731,331,000 after buying an additional 4,099,366 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a research report on Tuesday, January 20th. Piper Sandler reiterated an “overweight” rating and set a $395.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Needham & Company LLC set a $400.00 target price on shares of Alphabet and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group increased their target price on shares of Alphabet from $330.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Finally, Wedbush restated an “outperform” rating and issued a $370.00 price target on shares of Alphabet in a research report on Thursday, February 5th. Nine investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $345.71.

Alphabet Trading Up 1.6%

NASDAQ:GOOG opened at $309.41 on Wednesday. The firm has a market capitalization of $3.74 trillion, a P/E ratio of 28.62, a P/E/G ratio of 1.78 and a beta of 1.10. The business has a 50 day simple moving average of $319.00 and a 200 day simple moving average of $292.22. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $350.15.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.23. The firm had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the company earned $2.15 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a $0.21 dividend. The ex-dividend date was Monday, March 9th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 955 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total value of $284,590.00. Following the completion of the transaction, the chief accounting officer owned 9,918 shares in the company, valued at approximately $2,955,564. This represents a 8.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 47,574 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the completion of the sale, the insider owned 13,227 shares in the company, valued at $3,987,279.15. The trade was a 78.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 2,076,615 shares of company stock valued at $107,809,111. Company insiders own 12.99% of the company’s stock.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: MoffettNathanson reiterated a Buy rating and kept a $350 price target, citing robust YouTube monetization and positioning Alphabet as a top media/ad franchise—this typically supports investor confidence in revenue upside. MoffettNathanson Buy Rating
• Positive Sentiment: Alphabet paid a cash dividend ($0.21/share on March 16), signaling shareholder-friendly capital allocation and returning cash to investors—a direct positive for yield-seeking holders. Dividend Payout
• Positive Sentiment: Coverage highlighting Alphabet’s massive multi‑year investments (reported at ~$346B) is being framed as driving durable growth and scale benefits to the bottom line—supportive for long-term earnings expectations. $346B Investment Boost
• Neutral Sentiment: Reuters reports Google procurement teams in China are in talks to buy liquid cooling systems from Envicool and others—operational detail that may lower data‑center costs or raise supply/geopolitical considerations depending on outcomes. China Cooling Systems Talks
• Neutral Sentiment: Short‑interest data in the aggregated feed shows anomalous zeroes for March (likely a reporting/data issue); no clear signal for increased bearish bets from that metric today.
• Neutral Sentiment: Coverage of quantum computing competition (IBM vs. other players) notes Alphabet’s activity in the space but does not yet alter near‑term revenue—relevant for long‑range R&D narrative but not immediate earnings. Quantum Computing Landscape
• Negative Sentiment: European publishers and tech firms are pressing the EU to speed a probe and potential fine over Google Search self‑preferencing—an escalated regulatory risk that could hit search economics or lead to enforcement costs. EU Antitrust Pressure
• Negative Sentiment: Analyst commentary flags valuation concerns (mid‑20s P/E) and rising capex/margin pressure despite AI-driven growth—this frames upside as dependent on sustained margin recovery and execution. Valuation Concerns

Alphabet Company 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.