Synergy Asset Management LLC Purchases Shares of 1,204 Alphabet Inc. (NASDAQ:GOOG)

Synergy Asset Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,204 shares of the information services provider’s stock, valued at approximately $230,000.

Several other hedge funds have also modified their holdings of the stock. Weiss Asset Management LP acquired a new position in shares of Alphabet in the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet in the 3rd quarter worth $33,000. Sanctuary Wealth Management L.L.C. boosted its holdings in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the last quarter. Iron Horse Wealth Management LLC grew its position in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares during the period. Finally, Kieckhefer Group LLC acquired a new stake in Alphabet during the fourth quarter worth about $76,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This represents a 12.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the sale, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,189 shares of company stock valued at $22,182,696 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $205.60 on Monday. The firm has a market cap of $2.52 trillion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $207.08. The firm’s 50-day simple moving average is $190.48 and its 200-day simple moving average is $175.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOG. Wedbush reiterated an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Barclays increased their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Pivotal Research boosted their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

About Alphabet

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.