Ignite Planners LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

Ignite Planners LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 15,046 shares of the information services provider’s stock after selling 452 shares during the quarter. Ignite Planners LLC’s holdings in Alphabet were worth $2,340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Financial Synergies Wealth Advisors Inc. lifted its holdings in Alphabet by 560.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 528 shares of the information services provider’s stock worth $80,000 after buying an additional 448 shares during the period. Global Assets Advisory LLC lifted its holdings in Alphabet by 15,351.0% in the 1st quarter. Global Assets Advisory LLC now owns 2,304,517 shares of the information services provider’s stock worth $347,821,000 after buying an additional 2,289,602 shares during the period. Southland Equity Partners LLC lifted its holdings in Alphabet by 4.9% in the 1st quarter. Southland Equity Partners LLC now owns 2,276 shares of the information services provider’s stock worth $344,000 after buying an additional 107 shares during the period. Range Financial Group LLC purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $453,000. Finally, Peak Financial Advisors LLC boosted its position in shares of Alphabet by 15.6% during the first quarter. Peak Financial Advisors LLC now owns 20,462 shares of the information services provider’s stock valued at $3,088,000 after purchasing an additional 2,762 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now directly owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the sale, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,374 shares of company stock worth $24,548,073. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $184.03 on Wednesday. The company has a market capitalization of $2.27 trillion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The business’s fifty day moving average is $171.13 and its 200 day moving average is $153.36. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $184.29.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the business earned $1.17 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. KeyCorp raised their price objective on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Raymond James upped their price objective on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Wolfe Research lifted their target price on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Oppenheimer upped their price target on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Robert W. Baird raised their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.26.

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.