Daymark Wealth Partners LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Daymark Wealth Partners LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 290,997 shares of the information services provider’s stock after selling 1,301 shares during the quarter. Alphabet makes up about 1.8% of Daymark Wealth Partners LLC’s holdings, making the stock its 13th largest position. Daymark Wealth Partners LLC’s holdings in Alphabet were worth $55,086,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. LMR Partners LLP purchased a new position in Alphabet during the 3rd quarter worth $32,000. Denver PWM LLC boosted its stake in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares during the period. Quarry LP purchased a new position in shares of Alphabet during the second quarter worth about $53,000. Teachers Insurance & Annuity Association of America acquired a new position in Alphabet in the 3rd quarter valued at about $66,000. Finally, Mendota Financial Group LLC raised its stake in Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 4.2 %

Shares of GOOGL stock opened at $191.81 on Tuesday. 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 Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29. The firm’s 50 day moving average price is $186.46 and its two-hundred day moving average price is $173.57. The stock has a market cap of $2.35 trillion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the business posted $1.55 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GOOGL. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Wedbush boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Cantor Fitzgerald reduced their target price on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Royal Bank of Canada boosted their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Sanford C. Bernstein raised their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $209.82.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. 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 over the last quarter. 11.55% of the stock is owned by corporate insiders.

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.