Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 29.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,862 shares of the information services provider’s stock after selling 14,815 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Alphabet were worth $6,639,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Magnolia Capital Advisors LLC boosted its stake in shares of Alphabet by 8.6% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 11,195 shares of the information services provider’s stock valued at $2,053,000 after buying an additional 884 shares during the last quarter. Wallace Advisory Group LLC increased its stake in shares of Alphabet by 1.3% in the second quarter. Wallace Advisory Group LLC now owns 10,314 shares of the information services provider’s stock worth $1,892,000 after buying an additional 134 shares during the last quarter. High Falls Advisors Inc acquired a new stake in Alphabet in the second quarter valued at $240,000. Wallace Capital Management Inc. boosted its stake in Alphabet by 6.3% during the 2nd quarter. Wallace Capital Management Inc. now owns 8,420 shares of the information services provider’s stock valued at $1,544,000 after acquiring an additional 500 shares during the last quarter. Finally, Newport Capital Group LLC acquired a new position in Alphabet during the 2nd quarter worth $410,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Scotiabank lifted their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday. Jefferies Financial Group upped their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.13.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $193.64 on Tuesday. The firm’s 50-day simple moving average is $187.95 and its 200 day simple moving average is $175.08. The stock has a market cap of $2.37 trillion, a P/E ratio of 25.68, a P/E/G ratio of 1.27 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the firm earned $1.55 EPS. Alphabet’s revenue was up 15.1% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

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.