Fifth Third Bancorp Sells 2,778 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fifth Third Bancorp lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,016,525 shares of the information services provider’s stock after selling 2,778 shares during the quarter. Alphabet comprises about 2.8% of Fifth Third Bancorp’s investment portfolio, making the stock its 6th biggest 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 large investors have also recently bought and sold shares of the stock. Bennett Selby Investments LP raised its stake in shares of Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after acquiring an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. raised its stake in shares of Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after acquiring an additional 53 shares in the last quarter. Denver PWM LLC raised its stake in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares in the last quarter. Ignite Planners LLC raised its stake in shares of Alphabet by 0.4% in the fourth quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock valued at $2,892,000 after acquiring an additional 57 shares in the last quarter. Finally, Fermata Advisors LLC raised its stake in shares of Alphabet by 0.8% in the fourth quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock valued at $1,407,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Needham & Company LLC increased their target price on Alphabet from $210.00 to $225.00 and gave the company a “buy” rating in a report on Monday. DA Davidson increased their target price on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. KeyCorp increased their target price on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Finally, Loop Capital increased their target price on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.82.

Get Our Latest Stock Analysis on GOOGL

Alphabet Trading Up 2.8 %

Shares of GOOGL opened at $200.87 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a 50 day simple moving average of $187.53 and a 200-day simple moving average of $173.84. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $202.29. The stock has a market cap of $2.46 trillion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the company posted $1.55 EPS. Equities analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on 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 directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. 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. Corporate insiders own 11.55% of the company’s stock.

Alphabet Company Profile

(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.

Featured Articles

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.