Apexium Financial LP Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Apexium Financial LP lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,938 shares of the information services provider’s stock after buying an additional 1,361 shares during the period. Apexium Financial LP’s holdings in Alphabet were worth $3,797,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. SPC Financial Inc. bought a new stake in shares of Alphabet in the second quarter worth about $287,000. New Century Financial Group LLC purchased a new stake in Alphabet in the 2nd quarter worth approximately $385,000. RiverFront Investment Group LLC grew its position in shares of Alphabet by 14.0% in the 2nd quarter. RiverFront Investment Group LLC now owns 214,555 shares of the information services provider’s stock worth $39,354,000 after buying an additional 26,430 shares during the last quarter. Farmers National Bank increased its stake in shares of Alphabet by 91.9% during the second quarter. Farmers National Bank now owns 8,927 shares of the information services provider’s stock valued at $1,637,000 after buying an additional 4,274 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Alphabet during the second quarter valued at approximately $607,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. This represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock valued at $22,470,464 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.1 %

NASDAQ:GOOG opened at $197.18 on Thursday. The stock has a market cap of $2.41 trillion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.27 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average price is $188.64 and its 200-day moving average price is $175.20. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOG. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank upped their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.13.

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.