Daymark Wealth Partners LLC Sells 481 Shares of Alphabet Inc. (NASDAQ:GOOG)

Daymark Wealth Partners LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the first quarter, Holdings Channel reports. The fund owned 106,644 shares of the information services provider’s stock after selling 481 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Alphabet were worth $16,661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. LaFleur & Godfrey LLC boosted its holdings in Alphabet by 1.2% in the fourth quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider’s stock worth $6,088,000 after acquiring an additional 380 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Alphabet in the 4th quarter worth $204,262,000. Ascent Wealth Partners LLC lifted its holdings in shares of Alphabet by 246.2% in the 4th quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider’s stock worth $1,085,000 after purchasing an additional 4,052 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its position in Alphabet by 4.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock valued at $96,465,000 after purchasing an additional 20,855 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $171.49 on Thursday. The company has a market capitalization of $2.08 trillion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The company’s 50-day moving average is $166.90 and its 200 day moving average is $176.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the previous year, the company earned $1.89 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is presently 9.36%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the sale, the director now directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. This trade represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 216,306 shares of company stock worth $35,782,927. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on GOOG shares. Westpark Capital restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. Susquehanna reiterated a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Scotiabank lowered their price objective on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $204.88.

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.