RD Lewis Holdings Inc. Makes New $2.29 Million Investment in Alphabet Inc. (NASDAQ:GOOG)

RD Lewis Holdings Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 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 biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Sterling Financial Planning Inc. boosted its stake in Alphabet by 2.6% in the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after purchasing an additional 50 shares during the period. Arlington Trust Co LLC boosted its stake in Alphabet by 0.4% in the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after purchasing an additional 52 shares during the period. Harrell Investment Partners LLC boosted its stake in Alphabet by 0.9% in the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after purchasing an additional 53 shares during the period. Ethos Financial Group LLC boosted its stake in Alphabet by 0.7% in the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock valued at $1,395,000 after purchasing an additional 53 shares during the period. Finally, Redhawk Wealth Advisors Inc. boosted its stake in Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after purchasing an additional 54 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOG opened at $166.57 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.34 and a beta of 1.03. The stock has a 50 day moving average of $186.78 and a 200 day moving average of $178.12. Alphabet Inc. has a 12 month low of $147.01 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock valued at $17,374,274 over the last ninety days. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent analyst reports. Oppenheimer upped their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reissued an “outperform” rating and set a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Scotiabank upped their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $209.13.

About Alphabet

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.