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Provident Investment Management Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,098 shares of the information services provider's stock after selling 15,667 shares during the period. Alphabet accounts for about 6.6% of Provident Investment Management Inc.'s holdings, 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 quarter.

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Other institutional investors and hedge funds have also bought and sold shares of the company. Providence Wealth Advisors LLC boosted its holdings in Alphabet by 0.3% in the first quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider's stock valued at $3,094,000 after acquiring an additional 29 shares in the last quarter. One Charles Private Wealth Services LLC increased its position in Alphabet by 0.6% during the 1st quarter. One Charles Private Wealth Services LLC now owns 4,844 shares of the information services provider's stock valued at $1,390,000 after purchasing an additional 29 shares during the period. Wisconsin Wealth Advisors LLC raised its holdings in Alphabet by 1.3% in the 2nd quarter. Wisconsin Wealth Advisors LLC now owns 2,223 shares of the information services provider's stock worth $785,000 after purchasing an additional 29 shares in the last quarter. Cypress Financial Planning LLC raised its holdings in Alphabet by 1.3% in the 3rd quarter. Cypress Financial Planning LLC now owns 2,198 shares of the information services provider's stock worth $749,000 after purchasing an additional 29 shares in the last quarter. Finally, Johnson Wealth Management LLC raised its holdings in Alphabet by 1.7% in the 2nd quarter. Johnson Wealth Management LLC now owns 1,842 shares of the information services provider's stock worth $651,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Trending Headlines about Alphabet

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

Insiders Place Their Bets

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In other Alphabet news, Director Frances Arnold sold 83 shares of the stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the transaction, the director owned 19,076 shares of the company's stock, valued at approximately $6,494,424.20. This represents a 0.43% decrease in their ownership of the stock. 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.

Alphabet Price Performance

Shares of GOOG opened at $321.89 on Thursday. Alphabet Inc. has a twelve month low of $268.43 and a twelve month high of $404.47. The company has a market capitalization of $3.94 trillion, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19. The firm has a 50 day moving average of $338.12 and a 200 day moving average of $338.76. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.

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Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, October 28th. The information services provider reported $2.12 EPS for the quarter, missing analysts' consensus estimates of $3.01 by ($0.89). Alphabet had a return on equity of 51.32% and a net margin of 54.77%. The business had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.97 billion. During the same period in the previous year, the business posted $2.87 EPS. The firm's revenue for the quarter was up 24.7% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 20.60 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research analyst reports. Zacks Research cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. HSBC set a $515.00 price target on shares of Alphabet in a research note on Friday, August 14th. Morgan Stanley lowered their price objective on shares of Alphabet from $415.00 to $400.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Phillip Securities raised Alphabet from a "moderate buy" rating to a "strong-buy" rating and cut their price objective for the company from $450.00 to $425.00 in a research report on Monday, July 27th. Finally, Stifel Nicolaus set a $485.00 price objective on Alphabet in a research report on Thursday, October 8th. Six investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $421.85.

View Our Latest Report on GOOG

Alphabet Company Profile

(Free Report)

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.

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