Telligent Fund LP Purchases New Stake in Alphabet Inc. $GOOG

Telligent Fund LP purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 18,000 shares of the information services provider’s stock, valued at approximately $4,384,000. Alphabet accounts for approximately 3.7% of Telligent Fund LP’s holdings, making the stock its 12th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. University of Illinois Foundation acquired a new stake in Alphabet in the second quarter valued at $31,000. Manning & Napier Advisors LLC purchased a new stake in shares of Alphabet in the third quarter valued at approximately $32,000. Horrell Capital Management Inc. boosted 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 worth $35,000 after buying an additional 100 shares in the last quarter. Tripletail Wealth Management LLC acquired a new stake in Alphabet in the third quarter valued at $40,000. Finally, Decker Retirement Planning Inc. raised its position in shares of Alphabet by 60.9% during the 2nd 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 last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOOG shares. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. BMO Capital Markets reissued an “outperform” rating and set a $400.00 target price on shares of Alphabet in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $370.00 price objective on shares of Alphabet in a report on Tuesday, January 20th. Guggenheim reiterated a “buy” rating and issued a $375.00 price objective on shares of Alphabet in a report on Monday, December 1st. Finally, Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Wednesday, December 17th. Nine research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $343.90.

Alphabet Price Performance

Shares of GOOG stock opened at $311.43 on Monday. The company has a market capitalization of $3.77 trillion, a P/E ratio of 28.81, a P/E/G ratio of 1.82 and a beta of 1.10. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $321.49 and a two-hundred day moving average of $283.93. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $350.15.

Alphabet (NASDAQ:GOOG) last issued 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 during the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the business earned $2.15 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 7.77%.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 47,574 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $301.45, for a total value of $14,341,182.30. Following the completion of the transaction, the insider directly owned 13,227 shares of the company’s stock, valued at approximately $3,987,279.15. The trade was a 78.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $303.92, for a total transaction of $9,877,400.00. Following the completion of the sale, the chief executive officer directly owned 2,818,524 shares of the company’s stock, valued at approximately $856,605,814.08. This represents a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,112,380 shares of company stock worth $119,112,888. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.