Fifth Third Wealth Advisors LLC Has $10.66 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Fifth Third Wealth Advisors LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 30.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,651 shares of the information services provider’s stock after acquiring an additional 16,570 shares during the period. Alphabet makes up 1.7% of Fifth Third Wealth Advisors LLC’s portfolio, making the stock its 11th largest holding. Fifth Third Wealth Advisors LLC’s holdings in Alphabet were worth $10,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in Alphabet in the fourth quarter worth $15,441,917,000. Vanguard Group Inc. lifted its position in Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado lifted its position in Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after purchasing an additional 6,010,548 shares during the period. International Assets Investment Management LLC lifted its position in Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after purchasing an additional 5,336,359 shares during the period. Finally, Lone Pine Capital LLC bought a new position in Alphabet in the third quarter worth $407,367,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $182.15 on Friday. The firm has a market cap of $2.25 trillion, a price-to-earnings ratio of 27.94, a PEG ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $186.05. The stock has a 50-day moving average price of $172.85 and a 200 day moving average price of $154.29. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the company earned $1.17 EPS. Research analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares of the company’s stock, valued at $663,107.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,284 shares of company stock worth $24,534,393. 11.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOGL. Citigroup raised their target price on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Canaccord Genuity Group lifted their price objective on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus reissued a “buy” rating and set a $196.00 price objective on shares of Alphabet in a report on Wednesday, May 15th. Mizuho lifted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Wedbush lifted their price objective on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.66.

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.