Alphabet Inc. (NASDAQ:GOOGL) Position Reduced by Synergy Financial Group LTD

Posted by Defense World Staff on May 2nd, 2023

Synergy Financial Group LTD trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 13.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,380 shares of the information services provider’s stock after selling 540 shares during the quarter. Synergy Financial Group LTD’s holdings in Alphabet were worth $298,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after acquiring an additional 453,413,389 shares during the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Alphabet by 1,955.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after purchasing an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Alphabet by 1,896.9% during the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after purchasing an additional 55,153,448 shares during the period. 34.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. Morgan Stanley increased their target price on shares of Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Wolfe Research increased their target price on shares of Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Tigress Financial dropped their target price on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. Raymond James increased their price objective on shares of Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Finally, Credit Suisse Group dropped their price objective on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, April 26th. Three research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.06.

Alphabet Trading Down 0.1 %

NASDAQ:GOOGL opened at $107.20 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.34. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $122.85. The stock’s 50-day moving average is $100.46 and its two-hundred day moving average is $96.68. The stock has a market cap of $1.37 trillion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. During the same quarter in the previous year, the business posted $1.23 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the completion of the sale, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,539 shares of company stock valued at $10,209,164. 11.44% of the stock is owned by corporate insiders.

About Alphabet

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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.