Provenance Wealth Advisors LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 625.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,729 shares of the information services provider’s stock after buying an additional 17,871 shares during the period. Provenance Wealth Advisors LLC’s holdings in Alphabet were worth $7,063,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the company. Morton Brown Family Wealth LLC grew its position in Alphabet by 135.5% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 73 shares of the information services provider’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Alphabet during the 2nd quarter valued at $29,000. Livelsberger Financial Advisory acquired a new stake in Alphabet during the 3rd quarter valued at $37,000. Timbuktu Capital Management LLC bought a new position in Alphabet in the 2nd quarter valued at $46,000. Finally, Robinswood Financial LLC bought a new position in Alphabet in the 1st quarter valued at $57,000. 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 is backing financing for TeraWulf’s data-center project tied to Anthropic’s long-term leases. The support could help secure infrastructure for AI demand, though it also exposes Google to a contingent commitment if Anthropic defaults. Article: Google’s Credit Backstop May Be TeraWulf’s Biggest Advantage
- Positive Sentiment: Waymo plans to expand its robotaxi fleet in Nashville by year-end, offering a potential growth signal for Alphabet’s autonomous-driving business. Article: Lyft to expand Waymo robotaxi fleet in Nashville by year-end
- Negative Sentiment: Google, Meta and TikTok sued California’s attorney general to block a law restricting features deemed addictive for under-16 users. The dispute adds regulatory uncertainty and scrutiny of Google’s services for young people. Article: Meta, Google, and TikTok sue California AG over teen social media law
- Negative Sentiment: Parents have sued Google, alleging a student used an AI chat on a school Chromebook while planning a suicide attempt. The claim is unproven, but it could heighten concerns about AI safety, liability and reputational risk. Article: Google faces claims student used AI chat on US school laptop to plan suicide attempt
- Negative Sentiment: Several law firms publicized a securities class action concerning investors who bought Alphabet shares from May 19 to July 16, alleging misleading statements about Gemini 3.5 Pro’s launch timing. The allegations have not been proven, but add legal overhang. Article: Rosen Law Firm investor notice
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. Canaccord Genuity Group set a $450.00 price objective on Alphabet in a research note on Thursday, July 23rd. Stifel Nicolaus set a $485.00 target price on Alphabet in a report on Thursday, October 8th. Royal Bank Of Canada restated a “buy” rating and issued a $475.00 target price on shares of Alphabet in a research note on Thursday, July 23rd. Evercore reaffirmed an “outperform” rating and issued a $435.00 price target on shares of Alphabet in a report on Thursday, October 29th. Finally, Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating and reduced their price target for the stock from $450.00 to $425.00 in a research report on Monday, July 27th. Six equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $413.38.
Read Our Latest Stock Analysis on GOOG
Insider Activity at Alphabet
In other news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director directly owned 19,076 shares of the company’s stock, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 247 shares of company stock valued at $79,238. 12.99% of the stock is currently owned by company insiders.
Alphabet Price Performance
GOOG opened at $281.74 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 2.69. The stock has a market capitalization of $3.45 trillion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company’s 50 day simple moving average is $330.86 and its 200-day simple moving average is $337.20. Alphabet Inc. has a one year low of $271.41 and a one year high of $404.47.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($0.89). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The company had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.97 billion. During the same quarter last year, the firm earned $2.87 EPS. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 19.80 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 7th. Alphabet’s dividend payout ratio (DPR) is presently 4.59%.
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.
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