Apexium Financial LP Acquires 2,794 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Apexium Financial LP raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 60,570 shares of the information services provider’s stock after purchasing an additional 2,794 shares during the quarter. Alphabet makes up approximately 0.7% of Apexium Financial LP’s investment portfolio, making the stock its 22nd largest holding. Apexium Financial LP’s holdings in Alphabet were worth $11,466,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Schear Investment Advisers LLC grew its stake in Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after acquiring an additional 4,905 shares during the period. Trinity Financial Advisors LLC grew its position in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 190 shares during the period. Landscape Capital Management L.L.C. increased its stake in Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after purchasing an additional 5,516 shares in the last quarter. abrdn plc raised its holdings in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after buying an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. lifted its stake in shares of Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after buying an additional 140 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the sale, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,189 shares of company stock worth $22,182,696 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $204.02 on Monday. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $205.48. 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 firm has a market capitalization of $2.50 trillion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98. The firm’s 50 day simple moving average is $188.97 and its 200 day simple moving average is $174.08.

Analyst Ratings Changes

Several equities research analysts have recently commented on GOOGL shares. Royal Bank of Canada boosted their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald lowered their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Stifel Nicolaus lifted their target price on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. DA Davidson increased their price target on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $211.00.

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.