Apexium Financial LP lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 77.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,856 shares of the information services provider’s stock after purchasing an additional 20,957 shares during the quarter. Apexium Financial LP’s holdings in Alphabet were worth $6,685,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Aire Advisors LLC boosted its stake in shares of Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after acquiring an additional 68 shares during the last quarter. Defined Wealth Management LLC boosted its stake in Alphabet by 2.9% during the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock worth $354,000 after buying an additional 71 shares during the last quarter. WealthCare Investment Partners LLC boosted its stake in Alphabet by 2.1% during the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock worth $482,000 after buying an additional 71 shares during the last quarter. Peoples Financial Services CORP. boosted its stake in Alphabet by 0.4% during the fourth quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock worth $2,331,000 after buying an additional 72 shares during the last quarter. Finally, RAM Investment Partners LLC boosted its stake in Alphabet by 1.0% during the fourth quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock worth $1,055,000 after buying an additional 73 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Trading Up 0.5 %
GOOGL opened at $177.85 on Wednesday. The business has a fifty day moving average price of $158.79 and a 200 day moving average price of $145.98. The stock has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.35 and a beta of 1.02. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $178.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations 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 prior year, the firm posted $1.17 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%.
Analysts Set New Price Targets
A number of research firms have weighed in on GOOGL. BMO Capital Markets reissued an “outperform” rating and set a $215.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Truist Financial boosted their price objective on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Needham & Company LLC lifted their target price on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Jefferies Financial Group lifted their target price on Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Morgan Stanley restated an “overweight” rating and issued a $195.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.60.
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Insider Transactions at Alphabet
In related news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 205,935 shares of company stock valued at $31,178,987. 11.55% of the stock is currently owned by corporate insiders.
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.
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