Murphy Capital Management Inc. Grows Position in Alphabet Inc (NASDAQ:GOOG)

Murphy Capital Management Inc. boosted its stake in Alphabet Inc (NASDAQ:GOOG) by 1.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,041 shares of the information services provider’s stock after buying an additional 90 shares during the quarter. Murphy Capital Management Inc.’s holdings in Alphabet were worth $5,448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Central Bank & Trust Co. grew its stake in shares of Alphabet by 3.1% during the 2nd quarter. Central Bank & Trust Co. now owns 295 shares of the information services provider’s stock worth $319,000 after acquiring an additional 9 shares during the period. Telos Capital Management Inc. grew its stake in shares of Alphabet by 1.0% during the 2nd quarter. Telos Capital Management Inc. now owns 921 shares of the information services provider’s stock worth $996,000 after acquiring an additional 9 shares during the period. TD Capital Management LLC grew its stake in shares of Alphabet by 38.5% during the 4th quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock worth $37,000 after acquiring an additional 10 shares during the period. Meristem Family Wealth LLC grew its stake in shares of Alphabet by 1.5% during the 4th quarter. Meristem Family Wealth LLC now owns 690 shares of the information services provider’s stock worth $715,000 after acquiring an additional 10 shares during the period. Finally, Pacifica Capital Investments LLC grew its stake in shares of Alphabet by 3.7% during the 4th quarter. Pacifica Capital Investments LLC now owns 280 shares of the information services provider’s stock worth $290,000 after acquiring an additional 10 shares during the period. 33.96% of the stock is owned by institutional investors and hedge funds.

In other Alphabet news, CAO Amie Thuener O’toole sold 69 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $1,042.90, for a total value of $71,960.10. Following the sale, the chief accounting officer now owns 388 shares of the company’s stock, valued at approximately $404,645.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Capitalg Lp purchased 140,000 shares of the stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $34.00 per share, for a total transaction of $4,760,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 2,068 shares of company stock valued at $2,487,718. 12.99% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on GOOG. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Deutsche Bank increased their price target on Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Pivotal Research began coverage on Alphabet in a research note on Wednesday, May 29th. They set a “hold” rating for the company. UBS Group reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $1,373.93.

NASDAQ GOOG traded down $15.02 during trading hours on Friday, hitting $1,193.99. The company had a trading volume of 1,644,818 shares, compared to its average volume of 1,487,756. Alphabet Inc has a 52 week low of $970.11 and a 52 week high of $1,289.27. The company’s 50 day moving average is $1,136.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. The company has a market capitalization of $844.67 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 1.34 and a beta of 0.96.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping the consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business had revenue of $38.94 billion during the quarter, compared to the consensus estimate of $38.21 billion. During the same quarter last year, the company earned $11.75 EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc will post 51.8 earnings per share for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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