Phraction Management LLC Buys 3,665 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Phraction Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,350 shares of the information services provider's stock after purchasing an additional 3,665 shares during the quarter. Alphabet accounts for about 3.7% of Phraction Management LLC's holdings, making the stock its 11th biggest holding. Phraction Management LLC's holdings in Alphabet were worth $11,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Anderson Financial Strategies LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $49,000. EQ Wealth Advisors LLC bought a new stake in Alphabet during the 1st quarter valued at $49,000. Navigoe LLC bought a new stake in Alphabet during the 4th quarter valued at $51,000. Prudent Man Investment Management Inc. bought a new stake in Alphabet during the 4th quarter valued at $53,000. Finally, Campbell Capital Management Inc. bought a new stake in Alphabet during the 4th quarter valued at $57,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the sale, the chief executive officer directly owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. The trade was a 1.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,643 shares of company stock valued at $36,330,928. Corporate insiders own 11.55% of the company's stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $176.79 on Tuesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The stock has a market cap of $2.15 trillion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.26 and a beta of 1.00. The company's 50 day moving average is $169.03 and its two-hundred day moving average is $173.67. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter last year, the business earned $1.89 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.48%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GOOGL shares. Wells Fargo & Company upped their price target on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Truist Financial restated a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Bank of America upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research report on Wednesday, June 25th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $199.95.

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.

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