Alphabet Inc. (NASDAQ:GOOGL) is Fifth Third Wealth Advisors LLC’s 10th Largest Position

Fifth Third Wealth Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 174,972 shares of the information services provider’s stock after buying an additional 11,002 shares during the quarter. Alphabet comprises approximately 1.8% of Fifth Third Wealth Advisors LLC’s portfolio, making the stock its 10th biggest holding. Fifth Third Wealth Advisors LLC’s holdings in Alphabet were worth $33,122,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. State Street Corp increased its holdings in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after buying an additional 743,369 shares during the last quarter. Geode Capital Management LLC increased its stake in Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after acquiring an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after purchasing an additional 523,416 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Roth Mkm upped their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Truist Financial raised their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Loop Capital upped their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.15.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the transaction, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,387 shares of company stock worth $24,368,654. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

GOOGL opened at $192.91 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $183.83 and its 200-day moving average is $173.20. The stock has a market cap of $2.36 trillion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 1.22 and a beta of 0.98. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the firm posted $1.55 EPS. On average, analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s payout ratio is 10.61%.

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.