Fifth Third Wealth Advisors LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) 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.
Other institutional investors and hedge funds have also bought and sold shares of the company. GuoLine Advisory Pte Ltd lifted its position in shares of Alphabet by 10.1% in the 1st quarter. GuoLine Advisory Pte Ltd now owns 496,000 shares of the information services provider's stock worth $74,861,000 after acquiring an additional 45,500 shares during the period. Cypress Wealth Services LLC raised its stake in shares of Alphabet by 2.8% in the first quarter. Cypress Wealth Services LLC now owns 23,805 shares of the information services provider's stock valued at $3,593,000 after purchasing an additional 654 shares in the last quarter. Sunburst Financial Group LLC lifted its position in Alphabet by 2.0% in the first quarter. Sunburst Financial Group LLC now owns 6,055 shares of the information services provider's stock worth $941,000 after purchasing an additional 119 shares during the period. Thrive Wealth Management LLC boosted its stake in Alphabet by 11.8% during the first quarter. Thrive Wealth Management LLC now owns 13,112 shares of the information services provider's stock worth $1,979,000 after buying an additional 1,387 shares in the last quarter. Finally, Towerpoint Wealth LLC increased its holdings in Alphabet by 10.1% in the 1st quarter. Towerpoint Wealth LLC now owns 4,339 shares of the information services provider's stock valued at $655,000 after buying an additional 398 shares during the period. Institutional investors own 40.03% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on GOOGL shares. Mizuho raised their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 26th. Sanford C. Bernstein lifted their price objective on Alphabet from $165.00 to $180.00 and gave the company a "market perform" rating in a report on Friday, April 26th. UBS Group upped their price objective on Alphabet from $150.00 to $166.00 and gave the company a "neutral" rating in a research note on Tuesday, April 16th. Morgan Stanley restated an "overweight" rating and set a $195.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Finally, Loop Capital upped their price target on Alphabet from $155.00 to $170.00 and gave the company a "hold" rating in a research report on Wednesday, May 1st. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $193.66.
View Our Latest Report on GOOGL
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company's stock, valued at $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 682 shares of the 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 sale, the chief accounting officer now directly owns 29,284 shares of the company's stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,284 shares of company stock worth $24,534,393. Insiders own 11.55% of the company's stock.
Alphabet Trading Down 1.8 %
Shares of GOOGL traded down $3.26 on Friday, reaching $182.15. 29,156,644 shares of the company's stock were exchanged, compared to its average volume of 23,478,628. The business has a 50 day moving average price of $172.85 and a two-hundred day moving average price of $154.44. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $186.05. The stock has a market capitalization of $2.25 trillion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the prior year, the business posted $1.17 EPS. Research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date was Monday, June 10th. Alphabet's payout ratio is 12.27%.
Alphabet 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.
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