Syntax Research Inc. Has $3.52 Million Stock Holdings in Alphabet Inc. $GOOG

Syntax Research Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 19,815 shares of the information services provider’s stock after selling 990 shares during the quarter. Alphabet comprises about 2.5% of Syntax Research Inc.’s holdings, making the stock its 12th largest position. Syntax Research Inc.’s holdings in Alphabet were worth $3,515,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC raised its holdings in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet during the 1st quarter worth approximately $26,000. Robbins Farley raised its holdings in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the last quarter. Goodman Advisory Group LLC bought a new position in Alphabet during the 1st quarter worth approximately $32,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in Alphabet during the 1st quarter worth approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG opened at $246.45 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 1.66 and a beta of 1.00. The firm’s fifty day moving average price is $221.89 and its two-hundred day moving average price is $187.15. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOG. Raymond James Financial restated an “outperform” rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Robert W. Baird lifted their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.33.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is owned by insiders.

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.