Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 0.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,255,669 shares of the information services provider’s stock after selling 11,700 shares during the period. Alphabet makes up approximately 0.9% of Fifth Third Bancorp’s investment portfolio, making the stock its 25th biggest position. Fifth Third Bancorp’s holdings in Alphabet were worth $239,130,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GOOG. apricus wealth LLC boosted its stake in shares of Alphabet by 7.8% in the fourth quarter. apricus wealth LLC now owns 8,248 shares of the information services provider’s stock valued at $1,571,000 after purchasing an additional 598 shares during the period. Bennett Selby Investments LP increased its stake in shares of Alphabet by 1.9% during the fourth quarter. Bennett Selby Investments LP now owns 137,120 shares of the information services provider’s stock worth $26,113,000 after buying an additional 2,593 shares during the period. AM Investment Strategies LLC raised its holdings in Alphabet by 0.3% in the fourth quarter. AM Investment Strategies LLC now owns 84,299 shares of the information services provider’s stock valued at $16,054,000 after acquiring an additional 218 shares in the last quarter. Eclectic Associates Inc. ADV lifted its stake in Alphabet by 2.8% in the fourth quarter. Eclectic Associates Inc. ADV now owns 2,888 shares of the information services provider’s stock worth $550,000 after acquiring an additional 78 shares during the last quarter. Finally, Benin Management CORP grew its holdings in Alphabet by 5.6% during the 4th quarter. Benin Management CORP now owns 29,709 shares of the information services provider’s stock worth $5,658,000 after acquiring an additional 1,586 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,387 shares of company stock valued at $24,368,654. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $193.64 on Tuesday. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $203.84. The stock’s 50-day moving average price is $187.95 and its 200 day moving average price is $175.08. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.37 trillion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GOOG shares. Scotiabank lifted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday. Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Oppenheimer upped their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.13.

Check Out Our Latest Stock Report on Alphabet

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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