Thrivent Financial for Lutherans raised its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 7.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,936,609 shares of the information services provider’s stock after buying an additional 407,834 shares during the quarter. Alphabet comprises about 1.5% of Thrivent Financial for Lutherans’ holdings, making the stock its 3rd largest position. Thrivent Financial for Lutherans’ holdings in Alphabet were worth $618,086,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Corrado Advisors LLC bought a new stake in shares of Alphabet in the fourth quarter valued at $27,000. Mark Sheptoff Financial Planning LLC raised its stake in shares of Alphabet by 142.9% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock valued at $35,000 after buying an additional 200 shares during the period. Milestone Wealth LLC raised its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 361 shares during the period. Bbjs Financial Advisors LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $48,000. Finally, GW&K Investment Management LLC bought a new stake in shares of Alphabet during the 1st quarter valued at $50,000. 27.13% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
GOOG has been the topic of a number of analyst reports. Wedbush initiated coverage on Alphabet in a research note on Monday, August 21st. They set an “outperform” rating on the stock. Robert W. Baird boosted their price objective on Alphabet from $123.00 to $140.00 in a research note on Wednesday, July 26th. Susquehanna boosted their price objective on Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Finally, Oppenheimer boosted their price objective on Alphabet from $145.00 to $160.00 in a research note on Wednesday, July 26th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $130.94.
Alphabet Price Performance
GOOG opened at $136.07 on Wednesday. The stock has a 50-day moving average price of $129.20 and a 200-day moving average price of $117.49. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $138.58. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.72 trillion, a P/E ratio of 28.83, a PEG ratio of 1.57 and a beta of 1.06.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the business earned $1.21 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Insider Activity at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 6,532 shares of the stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $15.02, for a total transaction of $98,110.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 6,532 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $15.02, for a total value of $98,110.64. The disclosure for this sale can be found here. Insiders sold 140,029 shares of company stock worth $12,883,371 in the last ninety days. 12.99% of the stock is owned by company insiders.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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