Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the second quarter, Holdings Channel reports. The institutional investor owned 105,427 shares of the information services provider’s stock after buying an additional 2,708 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Alphabet were worth $19,337,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. DSM Capital Partners LLC lifted its position in shares of Alphabet by 407.8% during the second quarter. DSM Capital Partners LLC now owns 914 shares of the information services provider’s stock worth $168,000 after purchasing an additional 734 shares during the last quarter. Drucker Wealth 3.0 LLC acquired a new stake in Alphabet during the second quarter valued at approximately $2,628,000. Employees Retirement System of Texas lifted its holdings in Alphabet by 4.4% during the 2nd quarter. Employees Retirement System of Texas now owns 1,404,515 shares of the information services provider’s stock worth $257,616,000 after buying an additional 59,515 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Alphabet by 2.4% in the 2nd quarter. AQR Capital Management LLC now owns 2,752,699 shares of the information services provider’s stock worth $504,900,000 after acquiring an additional 65,058 shares in the last quarter. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOG stock opened at $162.99 on Thursday. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The business has a 50 day simple moving average of $165.32 and a 200 day simple moving average of $167.65.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.44 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GOOG shares. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Oppenheimer cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.29.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now directly owns 27,824 shares of the company’s stock, valued at $4,590,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold 203,367 shares of company stock worth $34,079,756 over the last quarter. 12.99% of the stock is currently owned by company insiders.

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.