RD Lewis Holdings Inc. Invests $2.29 Million in Alphabet Inc. (NASDAQ:GOOG)

RD Lewis Holdings Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,221 shares of the information services provider’s stock, valued at approximately $2,287,000. Alphabet accounts for approximately 2.6% of RD Lewis Holdings Inc.’s portfolio, making the stock its 10th largest position.

Other large investors have also recently made changes to their positions in the company. Axxcess Wealth Management LLC boosted its stake in Alphabet by 1.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 120,789 shares of the information services provider’s stock valued at $22,274,000 after buying an additional 1,157 shares during the period. Flagship Wealth Advisors LLC bought a new stake in Alphabet during the fourth quarter valued at $526,000. Arrien Investments Inc. bought a new stake in Alphabet during the fourth quarter valued at $322,000. Cassady Schiller Wealth Management LLC boosted its stake in Alphabet by 14.7% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 1,835 shares of the information services provider’s stock valued at $349,000 after buying an additional 235 shares during the period. Finally, Signaturefd LLC boosted its stake in Alphabet by 22.9% during the fourth quarter. Signaturefd LLC now owns 72,267 shares of the information services provider’s stock valued at $13,763,000 after buying an additional 13,481 shares during the period. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOG. Scotiabank lifted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer raised their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Wedbush restated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. The trade was a 9.64 % decrease in their position. 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 1,368 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,048 shares of company stock valued at $17,374,274. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 0.6 %

GOOG opened at $166.57 on Tuesday. The company has a market cap of $2.03 trillion, a P/E ratio of 20.69, a P/E/G ratio of 1.34 and a beta of 1.03. The business’s 50-day moving average price is $186.78 and its 200-day moving average price is $178.12. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $147.01 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is 9.94%.

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.