Thrivent Financial for Lutherans Purchases 1,277 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Thrivent Financial for Lutherans grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the second quarter, HoldingsChannel.com reports. The fund owned 748,273 shares of the information services provider’s stock after buying an additional 1,277 shares during the period. Thrivent Financial for Lutherans’ holdings in Alphabet were worth $136,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of GOOGL. MorganRosel Wealth Management LLC raised its holdings in shares of Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC raised its stake in Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Joseph P. Lucia & Associates LLC boosted its stake in shares of Alphabet by 1.0% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after purchasing an additional 64 shares in the last quarter. Finally, Sunflower Bank N.A. grew its holdings in shares of Alphabet by 1.0% during the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after purchasing an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on GOOGL. JMP Securities restated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, September 25th. Wedbush reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, September 5th. Roth Mkm reaffirmed a “buy” rating and issued a $206.00 target price on shares of Alphabet in a report on Thursday, August 29th. DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Finally, Pivotal Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.14.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $165.86 on Friday. The firm has a market capitalization of $2.05 trillion, a P/E ratio of 25.44, a P/E/G ratio of 1.21 and a beta of 1.04. The firm’s 50-day moving average price is $162.06 and its 200-day moving average price is $167.00. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The disclosure for this sale can be found here. Insiders sold a total of 217,592 shares of company stock valued at $35,922,911 over the last ninety days. 11.55% of the stock is currently owned by insiders.

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.