Phraction Management LLC Has $10.02 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Phraction Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,608 shares of the information services provider’s stock after selling 400 shares during the quarter. Alphabet makes up 3.5% of Phraction Management LLC’s holdings, making the stock its 12th biggest position. Phraction Management LLC’s holdings in Alphabet were worth $10,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. FMR LLC lifted its holdings in Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after purchasing an additional 5,655,022 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after buying an additional 3,113,395 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Alphabet by 65.9% during the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after buying an additional 2,500,621 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Alphabet by 182.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock worth $422,331,000 after buying an additional 1,630,701 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after buying an additional 1,291,274 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,529 shares of company stock worth $16,600,078. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GOOG shares. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Wedbush reissued an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Scotiabank raised their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Finally, Canaccord Genuity Group raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Stock Performance

Alphabet stock opened at $186.87 on Monday. The stock has a market cap of $2.29 trillion, a PE ratio of 23.21, a P/E/G ratio of 1.39 and a beta of 1.00. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $194.37 and its two-hundred day moving average price is $176.69. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

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.