Provident Trust Co. raised its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 5.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 165,235 shares of the information services provider’s stock after acquiring an additional 8,559 shares during the period. Alphabet makes up 6.1% of Provident Trust Co.’s investment portfolio, making the stock its 11th biggest holding. Provident Trust Co.’s holdings in Alphabet were worth $178,605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOG. John G Ullman & Associates Inc. lifted its holdings in Alphabet by 20.5% during the fourth quarter. John G Ullman & Associates Inc. now owns 616 shares of the information services provider’s stock valued at $638,000 after purchasing an additional 105 shares during the last quarter. Lee Danner & Bass Inc. lifted its holdings in Alphabet by 2.7% during the fourth quarter. Lee Danner & Bass Inc. now owns 8,924 shares of the information services provider’s stock valued at $9,242,000 after purchasing an additional 233 shares during the last quarter. Moody Lynn & Lieberson LLC lifted its holdings in Alphabet by 1.8% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,070 shares of the information services provider’s stock valued at $2,144,000 after purchasing an additional 36 shares during the last quarter. Marathon Asset Management LLP lifted its holdings in Alphabet by 9.5% during the fourth quarter. Marathon Asset Management LLP now owns 105,621 shares of the information services provider’s stock valued at $109,399,000 after purchasing an additional 9,135 shares during the last quarter. Finally, Signition LP purchased a new stake in Alphabet during the fourth quarter valued at about $387,000. 33.98% of the stock is owned by hedge funds and other institutional investors.

Several research firms have commented on GOOG. Pivotal Research started coverage on shares of Alphabet in a report on Wednesday, May 29th. They set a “hold” rating on the stock. Deutsche Bank reissued a “buy” rating on shares of Alphabet in a report on Tuesday, August 6th. Barclays reissued a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Credit Suisse Group increased their price target on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Wedbush increased their price target on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $1,373.93.

GOOG traded down $27.38 on Wednesday, reaching $1,169.89. The company had a trading volume of 44,430 shares, compared to its average volume of 1,506,290. The business has a 50 day moving average of $1,153.65. The stock has a market capitalization of $823.76 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,289.27.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. The business had revenue of $38.94 billion for the quarter, compared to the consensus estimate of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. Alphabet’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the firm posted $11.75 earnings per share. On average, equities analysts expect that Alphabet Inc will post 52.1 EPS for the current fiscal year.

In related news, SVP David C. Drummond sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $1,215.39, for a total value of $1,944,624.00. Following the sale, the senior vice president now directly owns 44,482 shares of the company’s stock, valued at $54,062,977.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 69 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $1,042.90, for a total transaction of $71,960.10. Following the completion of the sale, the chief accounting officer now directly owns 388 shares in the company, valued at $404,645.20. The disclosure for this sale can be found here. Insiders sold 2,123 shares of company stock worth $2,553,758 over the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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