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

Ignite Planners LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 55.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,391 shares of the information services provider's stock after acquiring an additional 8,313 shares during the quarter. Ignite Planners LLC's holdings in Alphabet were worth $3,773,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in shares of Alphabet during the fourth quarter valued at $24,383,677,000. FMR LLC lifted its position in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after buying an additional 15,968,487 shares during the last quarter. Northern Trust Corp lifted its position in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the director owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock valued at $43,525,794 over the last three months. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Performance

GOOGL traded down $3.09 during trading on Friday, hitting $188.81. The company's stock had a trading volume of 17,717,821 shares, compared to its average volume of 37,048,895. The firm has a market cap of $2.29 trillion, a PE ratio of 20.12, a P/E/G ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The business's 50 day simple moving average is $177.91 and its 200-day simple moving average is $173.12. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Piper Sandler boosted their price target on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Sanford C. Bernstein increased their price objective on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price objective on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Cantor Fitzgerald increased their price objective on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Bank of America increased their price objective on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $211.39.

Alphabet Company 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.