Alphabet Inc. $GOOG Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 80.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,126,662 shares of the information services provider's stock after buying an additional 947,339 shares during the quarter. Alphabet accounts for 1.1% of Fifth Third Bancorp's portfolio, making the stock its 12th biggest holding. Fifth Third Bancorp's holdings in Alphabet were worth $610,054,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Worldquant Millennium Advisors LLC raised its holdings in Alphabet by 76.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider's stock worth $330,886,000 after purchasing an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in Alphabet during the second quarter worth $658,000. Financial Advisors Network Inc. boosted its position in Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider's stock worth $1,409,000 after purchasing an additional 565 shares in the last quarter. Finally, Ausdal Financial Partners Inc. grew its holdings in Alphabet by 10.7% in the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider's stock valued at $6,618,000 after purchasing an additional 3,616 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Warren Buffett said he personally initiated Berkshire Hathaway’s purchase of Alphabet, giving the stock a high-profile vote of confidence and reinforcing the view that GOOG remains attractive ahead of earnings. Warren Buffett tells CNBC he initiated Berkshire Hathaway's investment in Alphabet
• Positive Sentiment: Several analysts and market articles said Alphabet’s AI-driven search, cloud growth, and improving earnings outlook could support another results beat, keeping investor sentiment constructive. Alphabet Inc. (GOOG) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Positive Sentiment: Alphabet’s large clean-power purchase and ongoing AI infrastructure investment signal continued support for long-term cloud and AI expansion, which investors may view as a strength. Google's biggest clean power project is 40 miles north of xAI's unpermitted gas power plant
• Neutral Sentiment: Alphabet continues to receive favorable brokerage and valuation commentary, with some coverage highlighting strong AI monetization but noting the stock is already pricing in a lot of optimism. GOOGL Stock: Do AI Growth Drivers Justify the Premium Valuation?
• Negative Sentiment: The EU is preparing new fines against Google, adding to regulatory overhang and reminding investors that antitrust risk remains a key issue for the stock. EU Prepares to Fine Google as Part of Increased Big Tech Enforcement
• Negative Sentiment: Google also faced fresh scrutiny from Swiss regulators and new AI-related criticism and lawsuits, which could pressure sentiment around its core search and AI businesses. Google probed by Swiss regulator over Android default search feature

Insiders Place Their Bets

In other news, Director Frances Arnold sold 112 shares of the business's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the sale, the director owned 18,833 shares in the company, valued at approximately $6,615,656.24. The trade was a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 159,415 shares of company stock worth $7,672,279. 12.99% of the stock is owned by insiders.

Alphabet Trading Up 3.6%

GOOG stock opened at $370.21 on Thursday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.49 trillion, a price-to-earnings ratio of 28.24, a PEG ratio of 1.53 and a beta of 1.23. The business has a fifty day simple moving average of $368.14 and a 200-day simple moving average of $336.31. Alphabet Inc. has a 52 week low of $181.50 and a 52 week high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.96 billion. During the same quarter last year, the firm earned $2.81 earnings per share. The firm's revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities research analysts expect that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a $0.22 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's dividend payout ratio (DPR) is 6.71%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Oppenheimer lifted their price target on Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, April 15th. Wells Fargo & Company set a $416.00 price target on shares of Alphabet in a research report on Thursday, July 2nd. Raymond James Financial reissued a "strong-buy" rating and set a $425.00 price objective on shares of Alphabet in a research note on Thursday, April 30th. Finally, Truist Financial set a $430.00 price objective on Alphabet in a research report on Monday, June 1st. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Alphabet has an average rating of "Buy" and a consensus target price of $378.53.

Alphabet Company Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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