Lockheed Martin Investment Management Co. Has $993,000 Stake in Alphabet Inc. $GOOG

Lockheed Martin Investment Management Co. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 73.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,600 shares of the information services provider’s stock after selling 15,300 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Alphabet were worth $993,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GOOG. IFS Advisors LLC grew its stake in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley grew its stake in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC grew its stake in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. Fairman Group LLC grew its stake in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group reissued a “neutral” rating on shares of Alphabet in a research note on Thursday. Robert W. Baird raised their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Piper Sandler raised their price objective on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOG stock opened at $281.82 on Friday. The firm’s 50 day moving average price is $244.59 and its two-hundred day moving average price is $200.98. The stock has a market cap of $3.41 trillion, a PE ratio of 27.79, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $2.12 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet 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.