Ignite Planners LLC Acquires 8,313 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Ignite Planners LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 55.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,391 shares of the information services provider’s stock after buying an additional 8,313 shares during the period. Ignite Planners LLC’s holdings in Alphabet were worth $3,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Eagle Capital Management LLC increased its stake in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after acquiring an additional 371 shares during the period. Brighton Jones LLC increased its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares during the period. Highview Capital Management LLC DE boosted its holdings in shares of Alphabet by 3.6% in the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock valued at $5,509,000 after purchasing an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC boosted its holdings in shares of Alphabet by 22.7% in the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider’s stock valued at $13,873,000 after purchasing an additional 13,564 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $192.58 on Tuesday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The stock has a market cap of $2.34 trillion, a P/E ratio of 20.51, a PEG ratio of 1.31 and a beta of 1.00. The company has a 50-day moving average price of $176.29 and a 200 day moving average price of $172.79. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wedbush raised their target price on Alphabet from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. JMP Securities raised their target price on Alphabet from $220.00 to $225.00 and gave the company a “market outperform” rating in a report on Thursday, July 24th. Roth Capital raised their target price on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Guggenheim raised their target price on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Jefferies Financial Group reduced their target price on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $211.32.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the sale, the director owned 6,013 shares of the company’s stock, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock worth $43,523,710 over the last three months. Insiders own 11.55% of the company’s stock.

About Alphabet

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.