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

Daymark Wealth Partners LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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.

Other hedge funds have also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC raised its position in Alphabet by 9.3% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider’s stock worth $5,341,000 after purchasing an additional 2,390 shares during the last quarter. LaFleur & Godfrey LLC raised its position in shares of Alphabet by 1.2% during 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 during the last quarter. Brighton Jones LLC lifted its stake in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Alphabet in the fourth quarter worth approximately $204,262,000. Finally, Ascent Wealth Partners LLC boosted its holdings in Alphabet by 246.2% in the fourth quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider’s stock valued at $1,085,000 after acquiring an additional 4,052 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now owns 2,587,696 shares in the company, valued at $436,570,192.16. The trade was a 1.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,770 shares of company stock valued at $32,036,638 in the last 90 days. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GOOG shares. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Westpark Capital reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. UBS Group dropped their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Finally, Citigroup reissued a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

Alphabet Stock Up 3.0%

Shares of NASDAQ GOOG opened at $174.92 on Monday. 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 company has a 50-day moving average price of $161.88 and a 200-day moving average price of $176.09. The stock has a market capitalization of $2.12 trillion, a P/E ratio of 21.73, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $1.89 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

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.