Alphabet Inc. $GOOGL is Synergy Asset Management LLC’s 7th Largest Position

Synergy Asset Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 2nd quarter, Holdings Channel reports. The fund owned 171,024 shares of the information services provider’s stock after selling 2,371 shares during the period. Alphabet makes up 3.4% of Synergy Asset Management LLC’s investment portfolio, making the stock its 7th largest position. Synergy Asset Management LLC’s holdings in Alphabet were worth $30,140,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the period. GAMMA Investing LLC raised its stake in shares of Alphabet by 10.5% during the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock worth $16,062,000 after buying an additional 9,900 shares during the period. Investment Partners Asset Management Inc. raised its stake in shares of Alphabet by 1.4% during the 1st quarter. Investment Partners Asset Management Inc. now owns 17,534 shares of the information services provider’s stock worth $2,711,000 after buying an additional 241 shares during the period. Finally, Alpha Omega Wealth Management LLC raised its stake in shares of Alphabet by 2.2% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 20,302 shares of the information services provider’s stock worth $3,140,000 after buying an additional 430 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $236.57 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The business’s fifty day simple moving average is $226.31 and its 200-day simple moving average is $188.49. The firm has a market cap of $2.86 trillion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOGL. Tigress Financial boosted their price target on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. Wedbush boosted their price target on Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. Needham & Company LLC boosted their price target on Alphabet from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Wells Fargo & Company set a $236.00 price target on Alphabet and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Mizuho set a $295.00 price target on Alphabet and gave the stock an “outperform” rating in a research report on Monday, September 29th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.88.

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.