Provident Wealth Management LLC Acquires 399 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Provident Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 44.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,299 shares of the information services provider’s stock after purchasing an additional 399 shares during the quarter. Provident Wealth Management LLC’s holdings in Alphabet were worth $246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. JPMorgan Chase & Co. grew its holdings in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Alphabet during the third quarter valued at approximately $513,024,000. Geode Capital Management LLC grew its holdings in shares of Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Alphabet by 26.9% during the third quarter. National Bank of Canada FI now owns 10,064,598 shares of the information services provider’s stock valued at $1,669,300,000 after buying an additional 2,136,128 shares during the last quarter. Finally, Darsana Capital Partners LP purchased a new stake in shares of Alphabet during the third quarter valued at approximately $331,700,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38 % 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. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,182 shares of company stock worth $18,192,354. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GOOGL shares. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a report on Thursday, February 6th. KeyCorp increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, January 10th. JPMorgan Chase & Co. lowered their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Citigroup lowered their price objective on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $165.87 on Tuesday. Alphabet Inc. has a 52 week low of $136.13 and a 52 week high of $207.05. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 20.60, a PEG ratio of 1.34 and a beta of 1.02. The firm has a fifty day simple moving average of $187.71 and a two-hundred day simple moving average of $176.56. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.