Fifth Third Wealth Advisors LLC Buys 31,482 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fifth Third Wealth Advisors LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 23.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163,970 shares of the information services provider’s stock after buying an additional 31,482 shares during the period. Alphabet comprises approximately 1.7% of Fifth Third Wealth Advisors LLC’s holdings, making the stock its 10th largest holding. Fifth Third Wealth Advisors LLC’s holdings in Alphabet were worth $27,194,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wrapmanager Inc. increased its position in shares of Alphabet by 17.1% during the 3rd quarter. Wrapmanager Inc. now owns 18,261 shares of the information services provider’s stock worth $3,029,000 after purchasing an additional 2,670 shares in the last quarter. BIP Wealth LLC increased its holdings in shares of Alphabet by 5.1% during the third quarter. BIP Wealth LLC now owns 7,302 shares of the information services provider’s stock worth $1,211,000 after buying an additional 354 shares in the last quarter. Prospera Financial Services Inc raised its stake in shares of Alphabet by 19.3% in the third quarter. Prospera Financial Services Inc now owns 167,262 shares of the information services provider’s stock valued at $27,746,000 after acquiring an additional 27,026 shares during the last quarter. Tranquility Partners LLC boosted its holdings in shares of Alphabet by 0.7% in the 3rd quarter. Tranquility Partners LLC now owns 22,470 shares of the information services provider’s stock worth $3,715,000 after acquiring an additional 153 shares in the last quarter. Finally, Whalen Wealth Management Inc. grew its position in Alphabet by 22.7% during the 3rd quarter. Whalen Wealth Management Inc. now owns 1,386 shares of the information services provider’s stock worth $230,000 after acquiring an additional 256 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOGL. JMP Securities lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. KeyCorp upped their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Tigress Financial raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company upped their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $171.34 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50 day moving average price of $168.84 and a 200 day moving average price of $170.26. The stock has a market capitalization of $2.10 trillion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.22 and a beta of 1.01. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the company posted $1.55 EPS. Analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock worth $27,803,730 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Company Profile

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.