Fifth Third Bancorp Has $1.44 Billion Stock Holdings in Alphabet Inc. $GOOGL

Fifth Third Bancorp boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 30.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,013,281 shares of the information services provider’s stock after acquiring an additional 1,178,514 shares during the period. Alphabet accounts for about 2.6% of Fifth Third Bancorp’s investment portfolio, making the stock its 6th largest position. Fifth Third Bancorp’s holdings in Alphabet were worth $1,441,619,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Symmetry Partners LLC lifted its stake in shares of Alphabet by 0.4% during the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after buying an additional 30 shares in the last quarter. Private Wealth Management Group LLC increased its stake in Alphabet by 1.2% in the 1st quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider’s stock worth $730,000 after buying an additional 30 shares in the last quarter. Members Trust Co increased its stake in Alphabet by 0.5% in the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock worth $2,014,000 after buying an additional 31 shares in the last quarter. Altfest L J & Co. Inc. lifted its position in shares of Alphabet by 0.4% in the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock valued at $2,489,000 after acquiring an additional 31 shares in the last quarter. Finally, Corus Family Wealth Advisors lifted its position in shares of Alphabet by 1.5% in the first quarter. Corus Family Wealth Advisors now owns 2,090 shares of the information services provider’s stock valued at $601,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is reportedly developing a new AI server chip to make Gemini run more efficiently, which could improve performance and reduce infrastructure costs. Reuters: Google plans new chip to run Gemini models more efficiently
• Positive Sentiment: Shares were also lifted by reports that Alphabet’s AI chip initiative could strengthen its competitive position against Nvidia and support its broader AI rollout. Yahoo Finance: Alphabet stock gains on report of next-generation AI chip project
• Positive Sentiment: Analysts and market commentators say Alphabet’s upcoming Q2 results could be supported by Search ad strength, Cloud growth, and rising subscriptions, with expectations for an earnings surprise still elevated. Zacks: Will Alphabet’s Q2 Earnings Reignite the Tech Rally?
• Positive Sentiment: Wall Street analysts remain generally constructive on Alphabet ahead of earnings, with some notes suggesting meaningful upside from current levels. Zacks: Wall Street Analysts Think Alphabet (GOOGL) Is a Good Investment: Is It?
• Neutral Sentiment: Alphabet’s upcoming earnings report is expected to be a major event for the stock, with traders bracing for a potentially large move depending on guidance and AI capex plans. Investopedia: Here’s How Much Google Parent Alphabet’s Stock Is Seen Moving After Earnings Wednesday
• Neutral Sentiment: Several articles highlighted Alphabet as one of this week’s most closely watched earnings names, but these were largely preview pieces rather than new fundamental developments. Proactive Investors: Week ahead: Wall Street gears up for volatility as Big Tech earnings kick into high gear
• Negative Sentiment: One New York Times report criticized Google’s AI search features as potentially harming the open web, which could add regulatory and reputational pressure over time. NYT: How Google’s A.I. Search Is Imperiling the Open Web
• Negative Sentiment: Two securities-fraud investigation notices may create some headline overhang, although they are routine plaintiff-lawyer announcements and not evidence of new wrongdoing. Globe Newswire: Securities Fraud Investigation Into Alphabet Inc. (GOOG) Continues

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GOOGL shares. Needham & Company LLC reissued a “buy” rating and set a $450.00 target price on shares of Alphabet in a research note on Wednesday, June 3rd. Freedom Capital lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. China Renaissance lifted their target price on Alphabet from $400.00 to $485.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Evercore boosted their target price on Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Finally, Citigroup reissued an “outperform” rating on shares of Alphabet in a research note on Monday, May 4th. Three analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $414.11.

Insider Activity at Alphabet

In other Alphabet news, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares in the company, valued at $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the sale, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 159,415 shares of company stock valued at $7,672,279 over the last three months. Corporate insiders own 11.61% of the company’s stock.

Alphabet Stock Up 1.5%

Shares of NASDAQ:GOOGL opened at $351.99 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $186.15 and a 12 month high of $408.61. The company has a 50-day moving average price of $368.16 and a 200 day moving average price of $338.41. The company has a market cap of $4.26 trillion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.44 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. As a group, equities research analysts predict that Alphabet Inc. will post 14.33 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio is 6.71%.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.