Telligent Fund LP Invests $4.38 Million in Alphabet Inc. $GOOG

Telligent Fund LP acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the third quarter, HoldingsChannel reports. The fund acquired 18,000 shares of the information services provider’s stock, valued at approximately $4,384,000. Alphabet accounts for 3.7% of Telligent Fund LP’s holdings, making the stock its 12th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the stock. University of Illinois Foundation bought a new stake in shares of Alphabet in the 2nd quarter valued at about $31,000. Manning & Napier Advisors LLC acquired a new position in Alphabet during the third quarter valued at approximately $32,000. Horrell Capital Management Inc. grew its holdings in Alphabet by 100.0% during the second quarter. Horrell Capital Management Inc. now owns 200 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 100 shares during the period. Tripletail Wealth Management LLC bought a new stake in Alphabet in the third quarter valued at approximately $40,000. Finally, Decker Retirement Planning Inc. raised its holdings in Alphabet by 60.9% in the second quarter. Decker Retirement Planning Inc. now owns 251 shares of the information services provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOG. Wedbush reissued an “outperform” rating and issued a $370.00 price target on shares of Alphabet in a report on Thursday, February 5th. Pivotal Research reiterated a “buy” rating and set a $420.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, February 5th. BNP Paribas Exane initiated coverage on Alphabet in a report on Monday, November 24th. They issued an “outperform” rating for the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $400.00 price target on shares of Alphabet in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $375.00 price objective on shares of Alphabet in a research report on Thursday, January 15th. Nine investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $343.90.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $306.73, for a total value of $184,038.00. Following the completion of the transaction, the director owned 20,624 shares in the company, valued at $6,325,999.52. This trade represents a 2.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 47,574 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total value of $14,341,182.30. Following the sale, the insider owned 13,227 shares in the company, valued at $3,987,279.15. The trade was a 78.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,112,380 shares of company stock worth $119,112,888. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 1.4%

NASDAQ GOOG opened at $311.43 on Monday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $350.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. The stock’s 50 day moving average price is $321.49 and its two-hundred day moving average price is $283.93. The stock has a market capitalization of $3.77 trillion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.82 and a beta of 1.10.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. The company had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company earned $2.15 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, March 9th. Alphabet’s payout ratio is presently 7.77%.

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.