Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 290,997 shares of the information services provider’s stock after selling 1,301 shares during the quarter. Alphabet accounts for approximately 1.8% of Daymark Wealth Partners LLC’s portfolio, making the stock its 13th biggest position. Daymark Wealth Partners LLC’s holdings in Alphabet were worth $55,086,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus increased their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Bank of America reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Finally, JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Monday. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.82.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the transaction, the director now owns 23,324 shares in the company, valued at $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the transaction, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This trade represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 over the last quarter. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Down 4.2 %

Shares of NASDAQ:GOOGL opened at $191.81 on Tuesday. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $202.29. The business has a 50 day moving average of $186.46 and a 200-day moving average of $173.57. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.35 trillion, a PE ratio of 25.44, a P/E/G ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping 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 business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the firm earned $1.55 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Company 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.