Murphy Capital Management Inc. Lowers Stock Position in Alphabet Inc (NASDAQ:GOOGL)

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Murphy Capital Management Inc. lessened its holdings in Alphabet Inc (NASDAQ:GOOGL) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,603 shares of the information services provider’s stock after selling 115 shares during the quarter. Murphy Capital Management Inc.’s holdings in Alphabet were worth $4,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Belvedere Advisors LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $38,000. Litman Gregory Asset Management LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at approximately $37,000. Thor Advisors LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $45,000. Lipe & Dalton acquired a new stake in shares of Alphabet during the 2nd quarter valued at approximately $49,000. Finally, Johnson Financial Group Inc. raised its position in shares of Alphabet by 26.3% during the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after purchasing an additional 10 shares during the last quarter. 33.50% of the stock is currently owned by institutional investors.

Shares of NASDAQ:GOOGL traded up $15.75 during midday trading on Friday, reaching $1,225.22. 589,894 shares of the company’s stock were exchanged, compared to its average volume of 1,311,059. The company’s 50 day simple moving average is $1,206.08 and its two-hundred day simple moving average is $1,174.07. The firm has a market capitalization of $847.70 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. Alphabet Inc has a 12 month low of $977.66 and a 12 month high of $1,296.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. The company had revenue of $31.71 billion during the quarter, compared to the consensus estimate of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. On average, research analysts anticipate that Alphabet Inc will post 51.29 earnings per share for the current year.

Several research analysts recently issued reports on GOOGL shares. Mizuho lifted their price objective on Alphabet from $1,350.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Macquarie set a $1,300.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Jefferies Financial Group lifted their price objective on Alphabet from $1,450.00 to $1,500.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Needham & Company LLC set a $1,350.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Bank of America set a $1,450.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $1,375.78.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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