Synovus Financial Corp Has $50.32 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Synovus Financial Corp increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,929.6% during the third quarter, Holdings Channel reports. The fund owned 525,773 shares of the information services provider’s stock after acquiring an additional 499,868 shares during the quarter. Alphabet comprises about 0.6% of Synovus Financial Corp’s holdings, making the stock its 28th biggest holding. Synovus Financial Corp’s holdings in Alphabet were worth $50,323,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. IAG Wealth Partners LLC grew its holdings in Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after buying an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC grew its holdings in Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after buying an additional 266 shares in the last quarter. Horizons Wealth Management acquired a new position in Alphabet in the 2nd quarter valued at $33,000. Schubert & Co grew its holdings in Alphabet by 1,200.0% in the 3rd quarter. Schubert & Co now owns 364 shares of the information services provider’s stock valued at $35,000 after buying an additional 336 shares in the last quarter. Finally, Carolina Wealth Advisors LLC grew its holdings in Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after buying an additional 380 shares in the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 280 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the sale, the director now directly owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 661,702 shares of company stock valued at $23,399,217 and sold 190,744 shares valued at $8,564,640. Insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. Atlantic Securities decreased their price objective on Alphabet to $115.00 in a report on Thursday, October 27th. Robert W. Baird reduced their target price on Alphabet to $120.00 in a report on Thursday, October 27th. Sanford C. Bernstein reduced their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Evercore ISI reduced their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 21st. Finally, StockNews.com began coverage on Alphabet in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Five analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.13.

Alphabet Trading Up 5.3 %

Shares of GOOGL stock opened at $98.02 on Monday. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.72 and a beta of 1.09. The stock has a 50-day moving average of $93.03 and a 200-day moving average of $101.55. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). The company had revenue of $57.27 billion during the quarter, compared to analyst estimates of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same period in the previous year, the company posted $1.40 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current year.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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