Provident Investment Management Inc. Buys 90 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Provident Investment Management Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,395 shares of the information services provider’s stock after acquiring an additional 90 shares during the period. Provident Investment Management Inc.’s holdings in Alphabet were worth $1,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors increased its holdings in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the period. Vanguard Group Inc. grew its holdings in Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after purchasing an additional 6,010,548 shares during the last quarter. PineStone Asset Management Inc. grew its holdings in Alphabet by 143.7% in the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after purchasing an additional 4,170,229 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Alphabet by 91.0% in the second quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock worth $1,450,599,000 after purchasing an additional 3,777,527 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $161.85 on Tuesday. The firm’s 50 day moving average price is $164.23 and its 200-day moving average price is $165.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The firm has a market cap of $2.00 trillion, a P/E ratio of 24.82, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the business posted $1.44 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $222.00 price target on shares of Alphabet in a report on Monday, September 16th. Roth Mkm reiterated a “buy” rating and set a $206.00 price objective on shares of Alphabet in a research note on Thursday, August 29th. Mizuho lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Bank of America lifted their price objective on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now directly owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. The disclosure for this sale can be found here. Insiders have sold a total of 180,167 shares of company stock worth $29,762,606 in the last ninety days. 11.55% of the stock is owned by corporate insiders.

Alphabet Profile

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.