Cyndeo Wealth Partners LLC Sells 11,590 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cyndeo Wealth Partners LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 93,934 shares of the information services provider's stock after selling 11,590 shares during the quarter. Alphabet comprises 0.9% of Cyndeo Wealth Partners LLC's holdings, making the stock its 25th largest holding. Cyndeo Wealth Partners LLC's holdings in Alphabet were worth $14,526,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Compass Planning Associates Inc bought a new stake in Alphabet during the fourth quarter worth $30,000. PayPay Securities Corp grew its holdings in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after buying an additional 65 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in Alphabet during the fourth quarter worth $49,000. Navigoe LLC bought a new stake in Alphabet during the fourth quarter worth $51,000. Finally, Prudent Man Investment Management Inc. bought a new stake in Alphabet during the fourth quarter worth $53,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares of the company's stock, valued at $1,232,544.70. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,570 shares of company stock valued at $32,003,532. Corporate insiders own 11.64% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GOOGL shares. Sanford C. Bernstein upped their price target on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. DA Davidson decreased their price target on Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Tigress Financial upped their price target on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. UBS Group set a $195.00 price target on Alphabet in a report on Friday, April 25th. Finally, Wedbush set a $190.00 price objective on Alphabet and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Price Performance

GOOGL traded down $2.63 during trading on Thursday, reaching $173.32. 28,640,034 shares of the company were exchanged, compared to its average volume of 30,477,180. The company's 50-day moving average is $164.17 and its two-hundred day moving average is $174.73. The company has a market cap of $2.10 trillion, a price-to-earnings ratio of 19.32, a P/E/G ratio of 1.11 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the firm posted $1.89 EPS. Research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet's dividend payout ratio is 9.36%.

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.