Syon Capital LLC Acquires 291,667 Shares of Alphabet Inc. (NASDAQ:GOOG)

Syon Capital LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 872.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 325,089 shares of the information services provider’s stock after buying an additional 291,667 shares during the period. Alphabet makes up approximately 3.3% of Syon Capital LLC’s holdings, making the stock its 6th biggest position. Syon Capital LLC’s holdings in Alphabet were worth $45,815,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. FMR LLC boosted its holdings in Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after acquiring an additional 4,348,188 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares during the last quarter. Northern Trust Corp grew its holdings in Alphabet by 2.3% in the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after buying an additional 1,275,060 shares during the last quarter. Sanders Capital LLC lifted its holdings in shares of Alphabet by 0.3% during the third quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock worth $3,658,122,000 after buying an additional 92,741 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Alphabet by 2.0% in the third quarter. Jennison Associates LLC now owns 19,822,203 shares of the information services provider’s stock valued at $2,613,557,000 after acquiring an additional 390,118 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $173.69 on Friday. The company has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. Alphabet Inc. has a one year low of $104.42 and a one year high of $176.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The business has a 50 day simple moving average of $149.12 and a 200 day simple moving average of $142.75.

Alphabet (NASDAQ:GOOG) last posted its earnings results 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 company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus price target of $165.67.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders have sold 253,439 shares of company stock worth $36,746,578 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet 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.