Syntegra Private Wealth Group LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Syntegra Private Wealth Group LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,114 shares of the information services provider’s stock after buying an additional 275 shares during the period. Syntegra Private Wealth Group LLC’s holdings in Alphabet were worth $791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock worth $18,672,198,000 after buying an additional 7,574,417 shares during the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the last quarter. Northern Trust Corp boosted its stake in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. Wellington Management Group LLP boosted its stake in Alphabet by 15.9% during the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after buying an additional 9,042,271 shares during the last quarter. Finally, Capital International Investors boosted its stake in Alphabet by 5.7% during the fourth quarter. Capital International Investors now owns 33,183,489 shares of the information services provider’s stock worth $6,281,879,000 after buying an additional 1,779,031 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.2%

Shares of NASDAQ GOOGL opened at $201.00 on Tuesday. The stock has a market cap of $2.43 trillion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.36 and a beta of 1.01. 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 Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The business has a 50-day moving average price of $181.53 and a 200 day moving average price of $172.81.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 274,219 shares of company stock valued at $49,674,273 over the last quarter. 11.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GOOGL shares. KeyCorp increased their price objective on Alphabet from $215.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. BMO Capital Markets increased their price objective on Alphabet from $208.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Oppenheimer increased their price objective on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. DA Davidson increased their price objective on Alphabet from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Truist Financial reiterated a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $211.53.

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.