Synovus Financial Corp increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,088 shares of the company’s stock after buying an additional 1,396 shares during the period. Synovus Financial Corp’s holdings in Alphabet were worth $19,071,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GOOGL. SevenBridge Financial Group LLC acquired a new stake in shares of Alphabet during the first quarter worth $120,000. Dividend Assets Capital LLC acquired a new stake in shares of Alphabet during the second quarter worth $120,000. Peoples Financial Services CORP. increased its stake in shares of Alphabet by 2.3% in the second quarter. Peoples Financial Services CORP. now owns 221 shares of the company’s stock worth $155,000 after buying an additional 5 shares during the last quarter. Cacti Asset Management LLC acquired a new stake in shares of Alphabet during the second quarter worth $162,000. Finally, Founders Capital Management LLC acquired a new stake in shares of Alphabet during the second quarter worth $196,000. Institutional investors own 34.15% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ:GOOGL) traded up 0.55% on Tuesday, hitting $799.78. The stock had a trading volume of 1,049,941 shares. The company has a market cap of $549.67 billion, a P/E ratio of 30.99 and a beta of 0.98. Alphabet Inc. has a 52-week low of $617.84 and a 52-week high of $813.88. The company has a 50-day moving average of $799.23 and a 200-day moving average of $753.53.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. On average, equities analysts anticipate that Alphabet Inc. will post $34.25 EPS for the current fiscal year.

A number of equities research analysts have weighed in on the company. Morgan Stanley reiterated an “overweight” rating and issued a $880.00 target price on shares of Alphabet in a report on Monday, September 12th. Deutsche Bank AG reiterated a “buy” rating and issued a $1,050.00 target price on shares of Alphabet in a report on Saturday, September 10th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $950.00 target price on shares of Alphabet in a report on Friday, September 9th. Robert W. Baird reiterated an “outperform” rating and issued a $900.00 target price on shares of Alphabet in a report on Friday, September 9th. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $960.00 target price on shares of Alphabet in a report on Wednesday, August 31st. Two analysts have rated the stock with a hold rating, forty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $925.42.

About Alphabet

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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