Alphabet Inc. $GOOGL Position Increased by Synergy Investment Management LLC

Synergy Investment Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,795 shares of the information services provider’s stock after purchasing an additional 168 shares during the quarter. Synergy Investment Management LLC’s holdings in Alphabet were worth $316,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Gimbal Financial increased its holdings in shares of Alphabet by 1.9% in the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after acquiring an additional 53 shares during the period. Missouri Trust & Investment Co boosted its stake in Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the period. Silver Coast Investments LLC grew its position in Alphabet by 1.3% in the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC grew its position in Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares during the last quarter. Finally, Bfsg LLC increased its stake in shares of Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOOGL shares. Arete boosted their price objective on Alphabet from $220.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Robert W. Baird lifted their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Roth Capital boosted their price target on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Finally, Evercore ISI lifted their price objective on shares of Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $307.84.

Alphabet Trading Up 0.0%

Shares of Alphabet stock opened at $320.02 on Friday. The business has a fifty day simple moving average of $269.25 and a 200-day simple moving average of $219.18. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $328.83. The firm has a market cap of $3.86 trillion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. 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 released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the transaction, the director owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the sale, the chief executive officer owned 2,304,619 shares of the company’s stock, valued at $683,642,180.16. This trade represents a 1.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 225,072 shares of company stock valued at $58,074,027 in the last ninety days. Company insiders own 11.64% of the company’s stock.

About Alphabet

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.