Alphabet Inc (NASDAQ:GOOG) Holdings Reduced by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in Alphabet Inc (NASDAQ:GOOG) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,965 shares of the information services provider’s stock after selling 2,778 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Alphabet were worth $163,638,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital Investment Services of America Inc. lifted its position in shares of Alphabet by 1.5% during the fourth quarter. Capital Investment Services of America Inc. now owns 12,066 shares of the information services provider’s stock worth $12,496,000 after purchasing an additional 174 shares in the last quarter. Steginsky Capital LLC lifted its position in shares of Alphabet by 1.3% during the third quarter. Steginsky Capital LLC now owns 18,507 shares of the information services provider’s stock worth $22,088,000 after purchasing an additional 234 shares in the last quarter. USS Investment Management Ltd lifted its position in shares of Alphabet by 13.8% during the fourth quarter. USS Investment Management Ltd now owns 263,372 shares of the information services provider’s stock worth $273,162,000 after purchasing an additional 32,000 shares in the last quarter. Suncoast Equity Management lifted its position in shares of Alphabet by 1.0% during the fourth quarter. Suncoast Equity Management now owns 15,662 shares of the information services provider’s stock worth $16,220,000 after purchasing an additional 148 shares in the last quarter. Finally, First National Bank of Hutchinson lifted its position in shares of Alphabet by 3.7% during the fourth quarter. First National Bank of Hutchinson now owns 1,232 shares of the information services provider’s stock worth $1,276,000 after purchasing an additional 44 shares in the last quarter. 33.99% of the stock is currently owned by institutional investors.

Alphabet stock traded down $2.03 during mid-day trading on Friday, hitting $1,086.74. The company had a trading volume of 24,033 shares, compared to its average volume of 1,572,194. The firm has a market capitalization of $747.72 billion, a P/E ratio of 22.87, a P/E/G ratio of 1.27 and a beta of 1.03. Alphabet Inc has a 1 year low of $970.11 and a 1 year high of $1,289.27. The company has a quick ratio of 3.93, a current ratio of 3.96 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $10.51 by $1.39. The company had revenue of $36.34 billion for the quarter, compared to analyst estimates of $37.36 billion. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm posted $9.93 earnings per share. As a group, research analysts expect that Alphabet Inc will post 48.44 earnings per share for the current fiscal year.

A number of analysts recently weighed in on the stock. Credit Suisse Group restated a “sell” rating on shares of Alphabet in a research note on Wednesday, May 15th. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,399.00 target price on the stock in a research note on Wednesday, April 24th. Deutsche Bank upped their target price on shares of Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. BidaskClub upgraded shares of Alphabet from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,361.50.

In other Alphabet news, CAO Amie Thuener O’toole sold 69 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $1,042.90, for a total value of $71,960.10. Following the transaction, the chief accounting officer now directly owns 388 shares in the company, valued at $404,645.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 39 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $1,182.00, for a total transaction of $46,098.00. Following the completion of the transaction, the director now owns 1,797 shares in the company, valued at $2,124,054. The disclosure for this sale can be found here. Insiders sold 423 shares of company stock worth $494,939 over the last quarter. 13.11% of the stock is currently owned by insiders.

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Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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