Alphabet Inc. (NASDAQ:GOOG) is Lewis Asset Management LLC’s 8th Largest Position

Lewis Asset Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,596 shares of the information services provider’s stock after selling 735 shares during the quarter. Alphabet accounts for about 2.4% of Lewis Asset Management LLC’s portfolio, making the stock its 8th largest holding. Lewis Asset Management LLC’s holdings in Alphabet were worth $3,160,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Weiss Asset Management LP purchased a new position in shares of Alphabet during the 3rd quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet during the 3rd quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. increased its holdings in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares in the last quarter. Iron Horse Wealth Management LLC increased its holdings in shares of Alphabet by 32.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 84 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $76,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group lifted their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $209.13.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,189 shares of company stock worth $22,182,696 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.5 %

NASDAQ GOOG opened at $205.60 on Monday. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $207.08. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $190.48 and its 200-day simple moving average is $175.60. The firm has a market cap of $2.52 trillion, a PE ratio of 27.27, a P/E/G ratio of 1.27 and a beta of 0.99.

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.