Synergy Asset Management LLC Has $6.93 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Synergy Asset Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 69.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,553 shares of the information services provider’s stock after buying an additional 32,217 shares during the quarter. Alphabet comprises 1.8% of Synergy Asset Management LLC’s holdings, making the stock its 17th biggest position. Synergy Asset Management LLC’s holdings in Alphabet were worth $6,931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. VitalStone Financial LLC acquired a new position in Alphabet in the fourth quarter valued at about $25,000. Laurel Wealth Planning LLC grew its position in Alphabet by 1,900.0% in the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares during the last quarter. Coston McIsaac & Partners grew its position in Alphabet by 1,900.0% in the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 304 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in Alphabet in the fourth quarter valued at about $33,000. Finally, TFO TDC LLC grew its position in Alphabet by 952.6% in the third quarter. TFO TDC LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 362 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. KeyCorp decreased their target price on Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. Piper Sandler lifted their target price on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Stifel Nicolaus assumed coverage on Alphabet in a research report on Monday, March 20th. They issued a “buy” rating and a $130.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $115.00 price target on shares of Alphabet in a report on Monday, April 3rd. Finally, 1-800-FLOWERS.COM restated a “downgrade” rating on shares of Alphabet in a report on Monday, May 15th. Four equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $130.56.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $123.48 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $126.43. The stock’s 50 day moving average is $108.64 and its 200-day moving average is $99.13. The firm has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.54 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same period in the prior year, the firm posted $1.23 EPS. Sell-side analysts forecast that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $125.00, for a total value of $100,000.00. Following the completion of the transaction, the director now owns 5,940 shares in the company, valued at approximately $742,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. In the last three months, insiders purchased 732,217 shares of company stock valued at $21,135,371 and sold 753,384 shares valued at $30,574,577. 0.88% of the stock is currently owned by insiders.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.