Cyndeo Wealth Partners LLC Purchases 1,106 Shares of Alphabet Inc. $GOOGL

Cyndeo Wealth Partners LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 95,040 shares of the information services provider’s stock after purchasing an additional 1,106 shares during the quarter. Alphabet makes up 1.0% of Cyndeo Wealth Partners LLC’s portfolio, making the stock its 23rd largest position. Cyndeo Wealth Partners LLC’s holdings in Alphabet were worth $16,749,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Missouri Trust & Investment Co lifted its holdings in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after buying an additional 55 shares in the last quarter. AM Investment Strategies LLC increased its holdings in Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after acquiring an additional 57 shares during the last quarter. Bfsg LLC lifted its stake in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after purchasing an additional 59 shares in the last quarter. Financial Council LLC lifted its stake in Alphabet by 1.0% in the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after purchasing an additional 60 shares in the last quarter. Finally, Enzi Wealth boosted its holdings in shares of Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 62 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,150 shares of company stock worth $55,805,379. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $253.30 on Monday. The firm has a market capitalization of $3.06 trillion, a PE ratio of 26.98, a PEG ratio of 1.71 and a beta of 1.00. The stock’s fifty day moving average is $231.55 and its 200 day moving average is $192.14. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on GOOGL. Susquehanna boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Truist Financial upped their price objective on Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Stifel Nicolaus increased their target price on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Finally, Jefferies Financial Group upped their price target on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.24.

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.