Synovus Financial Corp lessened its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,929 shares of the information services provider's stock after selling 2,946 shares during the period. Synovus Financial Corp's holdings in Alphabet were worth $30,269,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the 4th quarter valued at about $27,000. LSV Asset Management bought a new stake in Alphabet during the fourth quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the fourth quarter worth $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Price Performance
Alphabet stock traded down $3.18 during mid-day trading on Wednesday, hitting $155.50. 16,903,668 shares of the company were exchanged, compared to its average volume of 19,400,727. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $169.17 and a 200 day moving average of $177.83. The company has a market capitalization of $1.90 trillion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's payout ratio is currently 9.94%.
Analyst Ratings Changes
Several brokerages recently commented on GOOG. Scotiabank lifted their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Friday, January 24th. Citizens Jmp lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Westpark Capital began coverage on Alphabet in a report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 target price on the stock. Rosenblatt Securities reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. Finally, KeyCorp reduced their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $208.71.
Get Our Latest Stock Analysis on Alphabet
Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company's stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,663 shares of company stock worth $20,286,447 in the last three months. Insiders own 12.99% of the company's stock.
Alphabet Company Profile
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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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