Cynosure Group LLC Has $338,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Cynosure Group LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 54.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,775 shares of the information services provider’s stock after selling 2,086 shares during the period. Cynosure Group LLC’s holdings in Alphabet were worth $338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Alphabet in the 4th quarter valued at $5,166,070,000. Raymond James Financial Inc. bought a new position in Alphabet during the 4th quarter valued at about $1,551,533,000. GQG Partners LLC boosted its position in Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after buying an additional 7,221,746 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Alphabet by 5,712.8% during the fourth quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock worth $831,810,000 after buying an additional 4,292,689 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $328,018,000. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. The trade was a 19.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,297 shares of company stock worth $15,936,270. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.0 %

NASDAQ GOOG opened at $158.86 on Thursday. Alphabet Inc. has a one year low of $148.20 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $1.94 trillion, a P/E ratio of 19.73, a P/E/G ratio of 1.34 and a beta of 1.04. The stock’s 50-day moving average is $179.06 and its 200-day moving average is $178.56.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Scotiabank upped their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Finally, Benchmark reaffirmed a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $208.65.

Alphabet Company 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.