Cyndeo Wealth Partners LLC Has $8.46 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cyndeo Wealth Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 55.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,136 shares of the information services provider's stock after purchasing an additional 19,274 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Alphabet were worth $8,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Principia Wealth Advisory LLC grew its position in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after acquiring an additional 85 shares during the period. LSV Asset Management bought a new stake in shares of Alphabet in the 4th quarter worth about $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet during the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet in the fourth quarter valued at about $43,000. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GOOG. Scotiabank cut their target price on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Westpark Capital reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. UBS Group cut their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $204.88.

Alphabet Trading Down 0.4%

Shares of NASDAQ GOOG traded down $0.71 during midday trading on Tuesday, reaching $177.23. 17,459,815 shares of the stock were exchanged, compared to its average volume of 20,511,727. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 1.26 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The business has a 50-day simple moving average of $165.19 and a two-hundred day simple moving average of $176.43.

Alphabet (NASDAQ:GOOG - 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, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. Alphabet's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet's payout ratio is presently 9.36%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the sale, the director now directly owns 7,613 shares of the company's stock, valued at $1,232,544.70. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock valued at $32,003,532 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

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.