Fifth Third Wealth Advisors LLC Purchases 11,173 Shares of Alphabet Inc. (NASDAQ:GOOG)

Fifth Third Wealth Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 91,445 shares of the information services provider's stock after purchasing an additional 11,173 shares during the period. Alphabet makes up approximately 0.7% of Fifth Third Wealth Advisors LLC's holdings, making the stock its 22nd largest position. Fifth Third Wealth Advisors LLC's holdings in Alphabet were worth $14,286,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Cassaday & Co Wealth Management LLC raised its holdings in Alphabet by 9.3% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock valued at $5,341,000 after acquiring an additional 2,390 shares in the last quarter. LaFleur & Godfrey LLC raised its holdings in Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock valued at $6,088,000 after acquiring an additional 380 shares in the last quarter. Brighton Jones LLC raised its holdings 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 acquiring an additional 6,410 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Alphabet in the 4th quarter valued at approximately $204,262,000. Finally, Patrick M Sweeney & Associates Inc. raised its holdings in Alphabet by 0.6% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 14,828 shares of the information services provider's stock valued at $2,824,000 after acquiring an additional 86 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on GOOG shares. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday. Oppenheimer upped their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Benchmark reiterated a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $204.88.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company's stock, valued at $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,270 shares of company stock worth $26,553,563. Company insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.4%

Alphabet stock traded up $0.71 during trading hours on Wednesday, reaching $168.42. 9,593,362 shares of the company's stock traded hands, compared to its average volume of 20,234,963. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 20.92, a PEG ratio of 1.34 and a beta of 1.01. The firm's 50 day moving average is $161.02 and its 200-day moving average is $176.18. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Alphabet's revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 EPS. On average, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet's dividend payout ratio is 9.36%.

About Alphabet

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.