Alphabet Inc. (NASDAQ:GOOGL) Stock Position Decreased by Fifth Third Bancorp

Fifth Third Bancorp decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,016,525 shares of the information services provider’s stock after selling 2,778 shares during the quarter. Alphabet comprises 2.8% of Fifth Third Bancorp’s holdings, making the stock its 6th largest position. Fifth Third Bancorp’s holdings in Alphabet were worth $760,328,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. LMR Partners LLP purchased a new position in Alphabet during the third quarter worth approximately $32,000. Denver PWM LLC increased its stake in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the last quarter. Quarry LP acquired a new stake in Alphabet during the second quarter worth $53,000. Teachers Insurance & Annuity Association of America acquired a new stake in Alphabet during the third quarter worth $66,000. Finally, Mendota Financial Group LLC increased its stake in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent analyst reports. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald cut their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Morgan Stanley lifted their price objective on Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada lifted their price objective on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, KeyCorp lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.82.

Alphabet Stock Up 2.8 %

Alphabet stock opened at $200.87 on Friday. The stock has a 50-day simple moving average of $187.53 and a 200-day simple moving average of $173.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.46 trillion, a P/E ratio of 26.64, a PEG ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the business earned $1.55 EPS. Equities research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,630 shares of company stock valued at $22,258,133 in the last ninety days. Insiders own 11.55% of the company’s stock.

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.