Cynosure Group LLC Has $646,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cynosure Group LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 42.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,861 shares of the information services provider’s stock after buying an additional 1,158 shares during the quarter. Cynosure Group LLC’s holdings in Alphabet were worth $646,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC grew its stake in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new position in Alphabet during the second quarter worth about $37,000. HWG Holdings LP acquired a new position in shares of Alphabet during the 2nd quarter worth about $40,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the 2nd quarter valued at about $44,000. Finally, Sanctuary Wealth Management L.L.C. raised its position in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,673,866 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $170.82 on Thursday. The firm has a market cap of $2.09 trillion, a PE ratio of 22.66, a P/E/G ratio of 1.18 and a beta of 1.04. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The company’s fifty day simple moving average is $169.71 and its 200-day simple moving average is $171.85. 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 (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 EPS. Equities research analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GOOG shares. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. UBS Group raised their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Scotiabank started coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet 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.