Synergy Asset Management LLC Has $19.07 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Synergy Asset Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,347 shares of the information services provider’s stock after acquiring an additional 8,456 shares during the period. Alphabet accounts for about 3.2% of Synergy Asset Management LLC’s holdings, making the stock its 9th biggest position. Synergy Asset Management LLC’s holdings in Alphabet were worth $19,070,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tributary Capital Management LLC purchased a new stake in Alphabet in the 1st quarter worth about $30,000. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet during the fourth quarter worth about $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet in the fourth quarter worth about $38,000. Richardson Capital Management LLC raised its position in shares of Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 140 shares during the period. Finally, Armor Investment Advisors LLC lifted its stake in shares of Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Wedbush lifted their price target on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Evercore ISI increased their price objective on Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. Susquehanna raised their target price on Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research note on Monday, April 29th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $195.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Six research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

Get Our Latest Report on GOOGL

Alphabet Stock Up 2.6 %

Shares of Alphabet stock opened at $190.60 on Friday. The company’s 50 day moving average price is $175.43 and its 200-day moving average price is $155.98. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $190.86. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the company earned $1.17 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,788 shares of company stock worth $21,143,403. 11.55% of the stock is currently owned by company insiders.

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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