Apexium Financial LP Purchases 20,957 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Apexium Financial LP lifted its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 77.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 47,856 shares of the information services provider’s stock after purchasing an additional 20,957 shares during the period. Apexium Financial LP’s holdings in Alphabet were worth $6,685,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Sonata Capital Group Inc. grew its holdings in shares of Alphabet by 5.1% in the third quarter. Sonata Capital Group Inc. now owns 3,720 shares of the information services provider’s stock worth $487,000 after purchasing an additional 180 shares during the last quarter. Oarsman Capital Inc. boosted its holdings in Alphabet by 1.8% in the third quarter. Oarsman Capital Inc. now owns 17,839 shares of the information services provider’s stock valued at $2,334,000 after acquiring an additional 323 shares in the last quarter. Brio Consultants LLC boosted its holdings in Alphabet by 4.6% in the third quarter. Brio Consultants LLC now owns 6,823 shares of the information services provider’s stock valued at $893,000 after acquiring an additional 303 shares in the last quarter. Lafayette Investments Inc. boosted its holdings in Alphabet by 16.4% in the third quarter. Lafayette Investments Inc. now owns 2,031 shares of the information services provider’s stock valued at $266,000 after acquiring an additional 286 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in Alphabet by 4.0% in the third quarter. Portside Wealth Group LLC now owns 31,674 shares of the information services provider’s stock valued at $4,144,000 after acquiring an additional 1,216 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders sold a total of 205,935 shares of company stock worth $31,178,987 in the last three months. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $177.85 on Wednesday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $178.77. The business has a 50-day simple moving average of $158.79 and a two-hundred day simple moving average of $145.98. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $2.20 trillion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the company posted $1.17 EPS. On average, analysts expect that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GOOGL shares. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Citigroup lifted their price target on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Barclays raised their price objective on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company raised their price objective on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.

Check Out Our Latest Stock Analysis on Alphabet

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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