Cyndeo Wealth Partners LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jul 14th, 2023

Cyndeo Wealth Partners LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,268 shares of the information services provider’s stock after purchasing an additional 1,100 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Alphabet were worth $3,460,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GOOG. Corrado Advisors LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $27,000. Gould Capital LLC boosted its stake in shares of Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock worth $30,000 after buying an additional 301 shares during the period. My Personal CFO LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $34,000. Milestone Wealth LLC boosted its stake in shares of Alphabet by 1,900.0% during the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after buying an additional 361 shares during the period. Finally, Lowe Wealth Advisors LLC boosted its stake in shares of Alphabet by 187.5% during the fourth quarter. Lowe Wealth Advisors LLC now owns 460 shares of the information services provider’s stock worth $41,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 27.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOG. Robert W. Baird increased their target price on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. UBS Group increased their target price on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Oppenheimer decreased their target price on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Finally, Raymond James increased their target price on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.77.

Alphabet Price Performance

GOOG stock opened at $124.83 on Friday. The firm has a 50 day moving average of $121.29 and a 200-day moving average of $106.41. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $129.55. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.51 and a beta of 1.06.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $68.80 billion. During the same period last year, the firm earned $1.23 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities analysts expect that Alphabet Inc. will post 5.39 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were acquired at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the purchase, the insider now owns 2,243,665 shares in the company, valued at $63,585,466.10. The disclosure for this purchase can be found here. Insiders sold a total of 832,882 shares of company stock valued at $26,102,123 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.