Cyndeo Wealth Partners LLC Boosts Stock Position in Alphabet Inc. $GOOGL

Key Points

• Cyndeo Wealth Partners LLC increased its stake in Alphabet Inc. by 1.2% during Q2, holding 95,040 shares valued at approximately $16.7 million, making it the firm's 23rd largest holding.
• Alphabet's stock price has recently seen an increase of 0.7%, with shares currently trading at $253.30, while the company's market cap stands at $3.06 trillion.
• Following recent earnings results, Alphabet reported earnings of $2.31 per share, exceeding analyst expectations, and had a net margin of 31.12% with revenue reaching $96.43 billion.

Cyndeo Wealth Partners LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,040 shares of the information services provider's stock after acquiring an additional 1,106 shares during the quarter. Alphabet accounts for 1.0% of Cyndeo Wealth Partners LLC's portfolio, making the stock its 23rd biggest holding. Cyndeo Wealth Partners LLC's holdings in Alphabet were worth $16,749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Missouri Trust & Investment Co raised its holdings in Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock worth $2,981,000 after acquiring an additional 55 shares during the last quarter. AM Investment Strategies LLC increased its holdings in shares of Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock worth $1,141,000 after purchasing an additional 57 shares in the last quarter. Bfsg LLC raised its stake in shares of Alphabet by 0.6% in the second 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 during the last quarter. Financial Council LLC raised its stake in shares of Alphabet by 1.0% in the second 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 during the last quarter. Finally, Enzi Wealth lifted its holdings in shares of Alphabet by 2.5% during the first 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 in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.7%

Shares of GOOGL stock opened at $253.30 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.96. The stock has a market cap of $3.06 trillion, a P/E ratio of 26.98, a P/E/G ratio of 1.71 and a beta of 1.00. The company has a 50 day simple moving average of $231.55 and a two-hundred day simple moving average of $192.14.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate 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, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares of the company's stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the transaction, the director owned 5,116 shares of the company's stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOOGL shares. Piper Sandler boosted their target price on Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Mizuho set a $295.00 price target on shares of Alphabet and gave the stock an "outperform" rating in a research note on Monday, September 29th. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a report on Wednesday, October 8th. Loop Capital restated a "hold" rating and set a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $280.00 target price (up previously from $210.00) on shares of Alphabet in a research report on Friday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $252.24.

Alphabet Company 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.

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