Telligent Fund LP Buys Shares of 8,000 Alphabet Inc. (NASDAQ:GOOG)

Telligent Fund LP purchased a new position in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, Holdings Channel reports. The fund purchased 8,000 shares of the information services provider’s stock, valued at approximately $1,524,000. Alphabet accounts for approximately 1.5% of Telligent Fund LP’s portfolio, making the stock its 22nd biggest position.

Several other institutional investors have also made changes to their positions in the stock. Exchange Traded Concepts LLC lifted its holdings in Alphabet by 42.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,511 shares of the information services provider’s stock worth $1,089,000 after purchasing an additional 1,953 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in Alphabet during the 3rd quarter worth $204,000. Armstrong Advisory Group Inc. grew its position in shares of Alphabet by 2.8% in the third quarter. Armstrong Advisory Group Inc. now owns 4,118 shares of the information services provider’s stock valued at $688,000 after purchasing an additional 113 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in shares of Alphabet by 3.1% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 275,071 shares of the information services provider’s stock worth $45,989,000 after purchasing an additional 8,270 shares during the period. Finally, Thomasville National Bank lifted its position in shares of Alphabet by 0.3% during the 3rd quarter. Thomasville National Bank now owns 298,259 shares of the information services provider’s stock worth $49,866,000 after purchasing an additional 990 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 43,981 shares in the company, 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. In the last quarter, insiders have sold 89,529 shares of company stock valued at $16,600,078. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $188.20 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The firm has a 50 day simple moving average of $193.12 and a 200 day simple moving average of $176.14. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The firm has a market cap of $2.30 trillion, a P/E ratio of 23.38, a P/E/G ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s payout ratio is presently 9.94%.

Analyst Ratings Changes

Several brokerages have commented on GOOG. UBS Group lifted their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Oppenheimer raised their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Barclays increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Scotiabank raised their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

About Alphabet

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.