Murphy Pohlad Asset Management LLC Has $2.61 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Murphy Pohlad Asset Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,709 shares of the information services provider’s stock after selling 910 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Alphabet were worth $2,610,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GOOG. Adero Partners LLC grew its stake in shares of Alphabet by 113.8% during the 1st quarter. Adero Partners LLC now owns 150,364 shares of the information services provider’s stock worth $23,491,000 after acquiring an additional 80,024 shares in the last quarter. Montecito Bank & Trust grew its position in Alphabet by 0.4% in the first quarter. Montecito Bank & Trust now owns 16,370 shares of the information services provider’s stock valued at $2,557,000 after purchasing an additional 72 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in Alphabet by 1.1% in the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 12,105 shares of the information services provider’s stock valued at $1,891,000 after purchasing an additional 134 shares in the last quarter. Brown Miller Wealth Management LLC increased its stake in Alphabet by 88.3% in the 1st quarter. Brown Miller Wealth Management LLC now owns 5,750 shares of the information services provider’s stock valued at $898,000 after buying an additional 2,696 shares during the last quarter. Finally, 1900 Wealth Management LLC lifted its position in Alphabet by 3.1% during the 1st quarter. 1900 Wealth Management LLC now owns 11,451 shares of the information services provider’s stock worth $1,789,000 after buying an additional 345 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Scotiabank lowered their target price on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 21st. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Friday, April 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Oppenheimer raised their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Finally, Susquehanna reissued a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $204.88.

Alphabet Price Performance

Shares of Alphabet stock opened at $177.94 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a 50-day simple moving average of $165.19 and a two-hundred day simple moving average of $176.43.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.89 earnings per share. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,570 shares of company stock valued at $32,003,532. 12.99% of the stock is owned by corporate insiders.

About Alphabet

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.