Fifth Third Wealth Advisors LLC Buys 10,831 Shares of Alphabet Inc. $GOOG

Fifth Third Wealth Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,115 shares of the information services provider’s stock after acquiring an additional 10,831 shares during the period. Alphabet accounts for 1.1% of Fifth Third Wealth Advisors LLC’s holdings, making the stock its 17th largest position. Fifth Third Wealth Advisors LLC’s holdings in Alphabet were worth $31,874,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Imprint Wealth LLC bought a new stake in Alphabet in the 3rd quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth $38,000. Lifetime Wealth Management P.C. bought a new stake in shares of Alphabet in the fourth quarter valued at about $38,000. Bard Associates Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at about $41,000. Finally, Towne Trust Company N.A grew its stake in shares of Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $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.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s advertising business is still growing, with one analyst note pointing to rising ad revenues and AI-driven ad tools as a source of further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
• Positive Sentiment: Wedbush said the recent sell-off in big tech and AI names looks more like a buying opportunity than a broken AI thesis, and included Alphabet among the core beneficiaries of the AI trend. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Positive Sentiment: Alphabet continues to get bullish long-term commentary from investors who see it as a strong growth and AI compounder, helped by Google Cloud momentum and AI monetization potential. Alphabet: Still A Top-Tier AI Compounder
• Neutral Sentiment: Alphabet is set to join the Dow Jones Industrial Average, which is a notable index inclusion but not an immediate fundamental catalyst. Alphabet Set to Join Dow Jones Industrial Average as Verizon Exits Index (GOOG)
• Neutral Sentiment: A new bill would study data-center energy and water measurement standards, which could eventually affect Alphabet’s cloud and AI infrastructure, but it does not create immediate regulation. New Bill: Representative Suhas Subramanyam introduces H.R. 9372: Data Infrastructure Energy Measurement and Standards Act
• Negative Sentiment: Investor concern is centered on Google’s AI talent exodus, with reports of more researchers leaving for rivals like Anthropic, raising worries about execution in Gemini and broader AI competitiveness. Alphabet Shares Fall After Report on Further AI Talent Departures
• Negative Sentiment: A separate report said Google is taking a tougher stance with publishers to secure broader content access for AI training, while publishers warn that traffic declines are already hurting them, adding to regulatory and relationship risk. Google looks to bleed publishers with new AI partnerships that would cull their content
• Negative Sentiment: Several articles this week continued to highlight weakness in the “all-in on AI” trade and pressure on Alphabet shares tied to AI talent losses and competitive fears. Ranking the FAANG Stocks From Most to Least Attractive, Based on Future Cash Flow

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the sale, the director directly owned 2,531 shares in the company, valued at $995,341.06. This represents a 29.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 151,523 shares of company stock worth $4,863,526 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $334.71 on Friday. The company’s 50 day simple moving average is $366.33 and its 200 day simple moving average is $331.94. The stock has a market capitalization of $4.06 trillion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 1.43 and a beta of 1.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet Inc. has a 1 year low of $172.71 and a 1 year high of $404.47.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $106.96 billion. During the same period in the prior year, the company earned $2.81 earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, research analysts predict that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 6.71%.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Pivotal Research restated a “buy” rating and set a $470.00 target price (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. TD Cowen raised their target price on shares of Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Needham & Company LLC set a $400.00 price target on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, Truist Financial set a $430.00 price target on Alphabet in a research note on Monday, June 1st. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $376.78.

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.