Alphabet Inc. $GOOG Stock Position Reduced by Provident Investment Management Inc.

Provident Investment Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.5% during the third quarter, Holdings Channel.com reports. The fund owned 194,098 shares of the information services provider’s stock after selling 15,667 shares during the quarter. Alphabet accounts for 6.6% of Provident Investment Management Inc.’s investment portfolio, making the stock its 4th largest holding. Provident Investment Management Inc.’s holdings in Alphabet were worth $66,137,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Trueblood Wealth Management LLC boosted its position in shares of Alphabet by 9.6% in the third quarter. Trueblood Wealth Management LLC now owns 5,046 shares of the information services provider’s stock worth $1,719,000 after purchasing an additional 441 shares during the period. Meridian Financial Partners LLC increased its stake in shares of Alphabet by 0.9% in the third quarter. Meridian Financial Partners LLC now owns 9,651 shares of the information services provider’s stock worth $3,329,000 after purchasing an additional 90 shares in the last quarter. Bernardo Wealth Planning LLC increased its stake in shares of Alphabet by 100.6% in the third quarter. Bernardo Wealth Planning LLC now owns 17,742 shares of the information services provider’s stock worth $6,045,000 after purchasing an additional 8,897 shares in the last quarter. Dixon Fnancial Services Inc. raised its position in shares of Alphabet by 1.4% during the 3rd quarter. Dixon Fnancial Services Inc. now owns 2,420 shares of the information services provider’s stock valued at $824,000 after purchasing an additional 34 shares during the period. Finally, Tarbox Family Office Inc. raised its position in shares of Alphabet by 179.7% during the 3rd quarter. Tarbox Family Office Inc. now owns 2,833 shares of the information services provider’s stock valued at $965,000 after purchasing an additional 1,820 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. Roth Capital lifted their target price on shares of Alphabet from $435.00 to $440.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. New Street Research cut their price target on Alphabet from $455.00 to $405.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Sanford C. Bernstein decreased their price target on Alphabet from $390.00 to $385.00 and set a “market perform” rating on the stock in a report on Thursday, July 23rd. Royal Bank Of Canada reissued a “buy” rating and set a $475.00 price target on shares of Alphabet in a report on Thursday, July 23rd. Finally, Evercore boosted their price objective on Alphabet from $420.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 17th. Six analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $421.85.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 83 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director owned 19,076 shares in the company, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.99% of the company’s stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud growth accelerated sharply. Cloud revenue more than doubled to approximately $30.7 billion, reflecting strong enterprise demand and supporting the view that Alphabet’s AI investments are generating substantial revenue. Google Cloud Revenue Just Grew 103%, so Why Is the Stock Falling?
• Positive Sentiment: AI products and infrastructure offer longer-term upside. Alphabet launched its Gemini 4 Carbon model, expanded AI Search advertising internationally and reportedly attracted interest from OpenAI in its internally developed TPU chips. One analyst described the post-earnings pullback as a potential buying opportunity. Google’s post-earnings stock pullback could be a buying opportunity
• Neutral Sentiment: Revenue remained solid but the mix was concerning. Total revenue rose 25% to about $127.6 billion, close to expectations, while YouTube advertising increased 9%. However, investors are increasingly focused on whether AI-driven businesses can offset slowing growth in Google’s core Search advertising franchise. Google Shares Fall as Ad Revenue Misses Estimates
• Negative Sentiment: Profitability and cash flow disappointed. Third-quarter EPS of $2.12 missed consensus estimates near $3.00 and fell from $2.87 a year earlier, partly due to an approximately $8.7 billion investment loss. Capital expenditures reached roughly $51.4 billion, while free cash flow turned negative as Alphabet expanded data-center capacity and hired AI talent. The heavy spending raised concerns that AI returns may take longer to materialize. Alphabet’s heavy cloud spending drives bigger-than-expected cash burn
• Negative Sentiment: Regulatory and legal risks remain secondary overhangs. South Korean authorities fined Google over alleged app-market practices, while multiple law firms publicized securities litigation tied to alleged disclosures about Gemini development. These issues were less important than earnings but could add longer-term uncertainty. South Korea fines Google and Apple over unfair app market practices

Alphabet Trading Up 1.6%

GOOG stock opened at $321.89 on Thursday. The firm has a fifty day moving average price of $338.12 and a 200 day moving average price of $338.76. Alphabet Inc. has a fifty-two week low of $268.43 and a fifty-two week high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The firm has a market cap of $3.94 trillion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19.

Alphabet (NASDAQ:GOOG) 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 business had revenue of $127.58 billion for the quarter, compared to analysts’ expectations of $127.97 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.87 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 20.60 earnings per share for the current fiscal year.

Alphabet Company 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.