First Citizens Bank & Trust 13F: Adds $11M to GOOG Stake

First Citizens Bank & Trust recently increased its investment in Alphabet Inc. (NasdaqGS: GOOG). The bank added 33,750 shares, growing its holdings by 17.4% to a total of 228,153 shares. This boost brought the value of its stake to about $77.7 million, according to a recent 13F filing with the SEC.

What Changed in First Citizens Bank & Trust's Alphabet Inc. Position

First Citizens Bank & Trust increased its position in Alphabet Inc. significantly, adding 33,750 shares. This move raised its total holdings by 17.4%, from 194,403 shares to 228,153 shares, with a reported value of approximately $77.7 million.

Alphabet Inc. Stock Down 2.1%

Shares of Alphabet Inc. (NasdaqGS: GOOG) traded recently, with the company boasting a market capitalization of roughly $4.22 trillion. Alphabet has a price-to-earnings (P/E) ratio of 17.3 and a forward P/E of 22.6, reflecting its valuation metrics. The stock has traded between $244.67 and $404.47 over the past 52 weeks, with moving averages of $342.14 for 50 days and $338.86 for 200 days. Alphabet's current ratio stands at 2.72, with a quick ratio of 2.47 and a debt-to-equity ratio of 18.86.

Recent Earnings

In its latest earnings report, Alphabet Inc. posted revenue of $445.87 billion, marking a growth rate of 24.2%. The company's net margin was 54.8%, with a return on equity of 48.7%. Earnings per share (EPS) came in at $19.93. The company is scheduled to announce its next earnings on October 28, 2026.

Dividend

Alphabet Inc. offers a dividend yield of 0.26% with an annual payout ratio of 4.26%. The company's dividend provides a modest income stream for shareholders.

About Alphabet Inc.

Alphabet Inc. is a leading player in the communication services sector, specifically within the internet content and information industry. The company provides a wide range of products and platforms including Google Services, Google Cloud, and Other Bets segments. Headquartered in Mountain View, California, and led by CEO Sundar Pichai, Alphabet employs nearly 199,000 people worldwide.

Bottom Line

First Citizens Bank & Trust's decision to increase its stake in Alphabet Inc. by 17.4% indicates a strong interest in the company's future prospects. Investors track such filings to gauge institutional confidence, though it's important to remember that these filings are backward-looking and may not reflect the investor's current position.