Ignite Planners LLC Has $2.89 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Ignite Planners LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,078 shares of the information services provider’s stock after purchasing an additional 57 shares during the quarter. Ignite Planners LLC’s holdings in Alphabet were worth $2,892,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. LMR Partners LLP bought a new stake in Alphabet during the 3rd quarter worth about $32,000. Denver PWM LLC bought a new stake in Alphabet during the 2nd quarter worth about $41,000. Quarry LP bought a new stake in Alphabet during the 2nd quarter worth about $53,000. Teachers Insurance & Annuity Association of America bought a new stake in Alphabet during the 3rd quarter worth about $66,000. Finally, Mendota Financial Group LLC grew its holdings in Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 over the last ninety days. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOGL opened at $195.55 on Thursday. The company has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.94, a PEG ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. The company’s fifty day simple moving average is $183.45 and its 200 day simple moving average is $173.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the company earned $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. KeyCorp raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Wedbush raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Finally, Stifel Nicolaus raised their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.15.

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.