Synovus Financial Corp Sells 15,761 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Synovus Financial Corp cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 362,616 shares of the information services provider's stock after selling 15,761 shares during the quarter. Alphabet accounts for 0.7% of Synovus Financial Corp's holdings, making the stock its 24th largest position. Synovus Financial Corp's holdings in Alphabet were worth $60,141,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc increased its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after purchasing an additional 60 shares during the last quarter. First PREMIER Bank increased its position in Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider's stock worth $275,000 after buying an additional 61 shares during the last quarter. Cutler Investment Counsel LLC raised its holdings in Alphabet by 1.7% during the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider's stock valued at $607,000 after buying an additional 61 shares in the last quarter. MKT Advisors LLC lifted its position in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider's stock worth $1,221,000 after buying an additional 62 shares during the last quarter. Finally, Mendota Financial Group LLC increased its holdings in shares of Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider's stock valued at $67,000 after acquiring an additional 64 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the sale, the chief executive officer now directly owns 2,129,306 shares of the company's stock, valued at $355,743,153.42. The trade was a 1.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,957 shares of company stock valued at $31,358,687 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. China Renaissance raised shares of Alphabet from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. BMO Capital Markets restated an "outperform" rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Tigress Financial boosted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "strong-buy" rating in a research report on Thursday, September 26th. Robert W. Baird reaffirmed an "outperform" rating and issued a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Finally, Truist Financial upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $206.69.

Alphabet Trading Up 1.5 %

NASDAQ GOOGL traded up $2.90 on Friday, reaching $191.41. The company had a trading volume of 62,697,719 shares, compared to its average volume of 27,725,518. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42. The stock's 50 day moving average is $173.99 and its 200-day moving average is $171.21. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.34 trillion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm posted $1.55 earnings per share. Equities analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet's dividend payout ratio is currently 10.61%.

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.