Daymark Wealth Partners LLC Has $20.40 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Daymark Wealth Partners LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 107,125 shares of the information services provider’s stock after selling 2,210 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Alphabet were worth $20,401,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Weiss Asset Management LP bought a new stake in shares of Alphabet in the third quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet in the 3rd quarter valued at $33,000. HWG Holdings LP bought a new stake in Alphabet during the 2nd quarter worth about $40,000. Sanctuary Wealth Management L.L.C. boosted its stake in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the last quarter. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.2 %

Shares of Alphabet stock opened at $201.90 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a 50-day moving average of $187.39 and a 200-day moving average of $175.23. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $203.84. The stock has a market cap of $2.47 trillion, a PE ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Analyst Ratings Changes

Several research firms recently issued reports on GOOG. Oppenheimer upped their target price on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays increased their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % 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 worth $24,368,654 in the last 90 days. Company insiders own 12.99% of the company’s stock.

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.