Apexium Financial LP Acquires 1,361 Shares of Alphabet Inc. (NASDAQ:GOOG)

Apexium Financial LP boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,938 shares of the information services provider’s stock after buying an additional 1,361 shares during the quarter. Apexium Financial LP’s holdings in Alphabet were worth $3,797,000 as of its most recent filing with the SEC.

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

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $197.18 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $203.84. The firm’s 50-day moving average is $188.64 and its 200 day moving average is $175.20.

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Oppenheimer raised their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. UBS Group lifted their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Pivotal Research lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays upped their target price 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. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 43,981 shares of the company’s stock, 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. Insiders sold 122,887 shares of company stock worth $22,470,464 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet 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.