Fifth Third Wealth Advisors LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Fifth Third Wealth Advisors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 23.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 163,970 shares of the information services provider’s stock after purchasing an additional 31,482 shares during the period. Alphabet comprises approximately 1.7% of Fifth Third Wealth Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Fifth Third Wealth Advisors LLC’s holdings in Alphabet were worth $27,194,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. LMR Partners LLP bought a new position in shares of Alphabet in the 3rd quarter valued at $32,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at $36,000. Denver PWM LLC bought a new stake in Alphabet during the 2nd quarter worth $41,000. Finally, Quarry LP acquired a new position in Alphabet in the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $171.34 on Wednesday. The firm has a 50 day simple moving average of $168.84 and a two-hundred day simple moving average of $170.26. The stock has a market cap of $2.10 trillion, a PE ratio of 22.72, a P/E/G ratio of 1.22 and a beta of 1.01. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last issued 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 10.61%.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction 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 trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,624 shares of company stock valued at $27,803,730. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $205.90.

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.