Cyndeo Wealth Partners LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cyndeo Wealth Partners LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 49,677 shares of the information services provider’s stock after buying an additional 1,991 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Alphabet were worth $8,306,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Pure Portfolios Holdings LLC purchased a new position in Alphabet in the third quarter valued at approximately $1,856,000. Bernardo Wealth Planning LLC raised its stake in shares of Alphabet by 1.2% in the third quarter. Bernardo Wealth Planning LLC now owns 9,095 shares of the information services provider’s stock valued at $1,496,000 after buying an additional 107 shares during the period. Werba Rubin Papier Wealth Management lifted its position in shares of Alphabet by 8.0% during the 3rd quarter. Werba Rubin Papier Wealth Management now owns 8,564 shares of the information services provider’s stock valued at $1,432,000 after buying an additional 631 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in shares of Alphabet by 0.7% during the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 209,377 shares of the information services provider’s stock worth $35,006,000 after acquiring an additional 1,445 shares during the period. Finally, Cedrus LLC increased its holdings in Alphabet by 4.5% in the 3rd quarter. Cedrus LLC now owns 1,748 shares of the information services provider’s stock worth $292,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GOOG shares. Scotiabank assumed coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. Oppenheimer cut their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Stock Performance

NASDAQ:GOOG opened at $165.05 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The firm has a market cap of $2.04 trillion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The business has a 50 day moving average price of $163.18 and a 200-day moving average price of $169.77.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the prior year, the company posted $1.44 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock valued at $35,993,340 over the last ninety days. 12.99% of the stock is owned by 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.