Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 776,885 shares of the information services provider’s stock after acquiring an additional 28,612 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Alphabet were worth $128,846,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Christopher J. Hasenberg Inc increased its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at approximately $36,000. Denver PWM LLC bought a new position in Alphabet during the second quarter worth $41,000. Quarry LP acquired a new position in Alphabet in the second quarter worth $53,000. Finally, Summit Securities Group LLC bought a new stake in Alphabet during the second quarter valued at $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 0.2 %

NASDAQ GOOGL opened at $168.95 on Monday. The firm’s 50 day moving average price is $168.47 and its two-hundred day moving average price is $170.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.20 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the firm earned $1.55 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is 10.61%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Pivotal Research lifted their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Truist Financial increased 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. DA Davidson assumed coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Finally, KeyCorp increased their target price on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock valued at $34,673,866. Insiders own 11.55% of the company’s stock.

Alphabet 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.