Alphabet Inc. $GOOG Shares Acquired by Phraction Management LLC

Phraction Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,538 shares of the information services provider’s stock after buying an additional 4,930 shares during the quarter. Alphabet comprises approximately 3.3% of Phraction Management LLC’s holdings, making the stock its 9th largest position. Phraction Management LLC’s holdings in Alphabet were worth $10,207,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GOOG. RDA Financial Network raised its holdings in shares of Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after buying an additional 554 shares during the last quarter. Oldfather Financial Services LLC acquired a new stake in Alphabet in the 2nd quarter valued at approximately $213,000. Truist Financial Corp raised its stake in Alphabet by 0.4% during the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after acquiring an additional 15,065 shares in the last quarter. GC Wealth Management RIA LLC boosted its position in Alphabet by 115.7% during the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock worth $38,031,000 after acquiring an additional 115,003 shares during the period. Finally, Members Trust Co grew its stake in shares of Alphabet by 84.7% in the first quarter. Members Trust Co now owns 4,999 shares of the information services provider’s stock worth $781,000 after purchasing an additional 2,292 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Roth Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Barclays reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group boosted their target price on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Finally, Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Five investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

Alphabet Price Performance

NASDAQ GOOG opened at $246.45 on Monday. The company has a 50 day simple moving average of $221.89 and a 200-day simple moving average of $187.31. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

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.