Alphabet Inc. $GOOG Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,070,762 shares of the information services provider's stock after selling 55,900 shares during the period. Alphabet accounts for approximately 1.2% of Fifth Third Bancorp's holdings, making the stock its 11th biggest position. Fifth Third Bancorp's holdings in Alphabet were worth $731,662,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in Alphabet in the third quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $38,000. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $38,000. Bard Associates Inc. acquired a new position in Alphabet during the fourth quarter worth about $41,000. Finally, Towne Trust Company N.A raised its position in Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway’s major investment: Berkshire increased its Alphabet position by 83%, adding roughly 48 million shares worth about $17 billion. Warren Buffett said he initiated the investment, providing a high-profile endorsement of Alphabet’s valuation, search resilience and rapidly growing Google Cloud business. Berkshire Hathaway Boosted Its Alphabet Stake 83%
• Positive Sentiment: AI and cloud expansion: Analysts and investors continue to highlight Alphabet’s strong AI position, including Gemini adoption, custom TPU potential and Google Cloud growth. Alphabet is also reportedly hosting Anthropic workloads, linking the company to demand for frontier AI infrastructure. Alphabet External TPU Sales Are A Likely Game Changer
• Positive Sentiment: Spirit Airlines data acquisition: Google won a $10 million bankruptcy auction for anonymized Spirit Airlines business records and software to support product development and AI training. The deal is small financially but illustrates Alphabet’s efforts to secure specialized datasets, with customer personal information reportedly excluded. Google to buy Spirit Airlines business data for $10 million
• Neutral Sentiment: Portfolio signals are divided: Several major funds, including David Tepper and other prominent managers, reported Alphabet purchases, but Bill Ackman, Viking Global and Altarock Partners also reduced or exited positions. Because 13F filings are backward-looking, they may influence sentiment without signaling current trading decisions. Hedge Funds Are Divided on MSFT and GOOGL
• Negative Sentiment: Investor-law-firm investigation: Pomerantz LLP announced an investigation into potential claims on behalf of Alphabet investors. The notice does not establish wrongdoing, but it adds headline and litigation risk. Pomerantz Investor Alert
• Negative Sentiment: Higher AI spending and debt: Alphabet is increasing bond issuance to fund data centers and AI infrastructure. The investment may support long-term growth, but heavier borrowing, supply commitments and concerns about an eventual AI-capex slowdown could pressure near-term sentiment. AI’s Half-Trillion-Dollar Borrowing Binge
• Negative Sentiment: China manufacturing exit: Google plans to complete its China manufacturing withdrawal by 2027, shifting Pixel production to Vietnam and India. The move may reduce geopolitical exposure but could create transition costs and supply-chain uncertainty. Alphabet Stock Dips as Google Plans China Manufacturing Exit

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Oppenheimer restated an "outperform" rating and set a $400.00 price objective (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a research note on Friday, July 17th. TD Cowen restated a "buy" rating and set a $475.00 target price on shares of Alphabet in a report on Thursday, July 23rd. Truist Financial decreased their price target on shares of Alphabet from $430.00 to $420.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Finally, BMO Capital Markets upped their price target on Alphabet from $455.00 to $465.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Six research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $415.55.

Alphabet Price Performance

NASDAQ GOOG opened at $341.28 on Wednesday. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1 year low of $197.46 and a 1 year high of $404.47. The company has a market cap of $4.17 trillion, a PE ratio of 17.14, a PEG ratio of 0.96 and a beta of 1.23. The stock's 50-day moving average price is $351.27 and its two-hundred day moving average price is $339.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.87 by $6.24. The company had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the company posted $2.31 earnings per share. On average, analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet's dividend payout ratio is 4.42%.

Insider Activity

In other news, CAO Marsida Saraci sold 449 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the sale, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares of the company's stock, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 451,945 shares of company stock worth $12,382,714. Company insiders own 12.99% of the company's stock.

Alphabet 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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