Thrivent Financial for Lutherans reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 617,115 shares of the information services provider's stock after selling 159,770 shares during the period. Thrivent Financial for Lutherans' holdings in Alphabet were worth $115,880,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Bennett Selby Investments LP boosted its holdings in shares of Alphabet by 4.0% in the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock valued at $256,000 after buying an additional 52 shares during the period. Macroview Investment Management LLC boosted its stake in Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after acquiring an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. grew its holdings in shares of Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock valued at $1,864,000 after purchasing an additional 53 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after purchasing an additional 53 shares during the period. Finally, Addison Advisors LLC lifted its holdings in shares of Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Insider Buying and Selling at Alphabet
In other news, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares of the company's stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,665 shares of company stock worth $16,198,310 over the last ninety days. Company insiders own 11.55% of the company's stock.
Alphabet Stock Performance
Shares of GOOGL stock traded down $0.03 during trading on Wednesday, reaching $157.04. The company had a trading volume of 24,682,619 shares, compared to its average volume of 27,382,781. The firm's 50 day simple moving average is $177.19 and its two-hundred day simple moving average is $176.95. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $1.91 trillion, a PE ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio is 9.94%.
Analyst Ratings Changes
Several equities research analysts have weighed in on GOOGL shares. Westpark Capital raised Alphabet to a "strong-buy" rating in a research report on Tuesday. Wolfe Research increased their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Needham & Company LLC reissued a "buy" rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Roth Mkm restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company cut their price target on Alphabet from $184.00 to $167.00 and set an "equal weight" rating on the stock in a report on Monday. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $209.49.
Get Our Latest Stock Report on GOOGL
About Alphabet
(
Free Report)
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.
Featured Stories
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
