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

Ignite Planners LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,078 shares of the information services provider’s stock after acquiring an additional 57 shares during the period. Ignite Planners LLC’s holdings in Alphabet were worth $2,892,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its stake in shares of Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after buying an additional 743,369 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. grew its position in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after purchasing an additional 523,416 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $195.55 on Thursday. The company has a market cap of $2.39 trillion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $183.45 and a 200-day moving average price of $173.04. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42.

Alphabet (NASDAQ:GOOGL) last released 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 company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the company posted $1.55 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares in the company, valued at approximately $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock worth $24,368,654 in the last quarter. 11.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on GOOGL. Morgan Stanley upped their price objective on Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. upped their price objective on Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Wells Fargo & Company upped their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Sanford C. Bernstein increased their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Nine research 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, the company currently has an average rating of “Moderate Buy” and an average target price of $208.15.

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.