Lockheed Martin Investment Management Co. grew its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 21.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 231,680 shares of the information services provider's stock after buying an additional 41,510 shares during the quarter. Alphabet accounts for approximately 1.5% of Lockheed Martin Investment Management Co.'s portfolio, making the stock its 19th biggest position. Lockheed Martin Investment Management Co.'s holdings in Alphabet were worth $35,827,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Mystic Asset Management Inc. lifted its stake in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its stake in Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC purchased a new stake in Alphabet during the fourth quarter worth approximately $3,119,000. Cypress Capital LLC lifted its stake in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares during the last quarter. Finally, Optivise Advisory Services LLC lifted its stake in Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Trading Up 0.5%
Shares of GOOGL stock opened at $203.90 on Friday. The business's fifty day moving average price is $184.25 and its 200 day moving average price is $173.20. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The firm has a market capitalization of $2.47 trillion, a PE ratio of 21.71, a P/E/G ratio of 1.37 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.
Wall Street Analyst Weigh In
GOOGL has been the subject of several recent analyst reports. Loop Capital restated a "hold" rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. DA Davidson boosted their target price on Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Oppenheimer lifted their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Susquehanna lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Finally, Guggenheim lifted their price target on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $211.53.
Get Our Latest Report on Alphabet
Insider Transactions at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the sale, the chief executive officer owned 2,494,892 shares of the company's stock, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,819 shares of company stock worth $49,796,547 over the last ninety days. 11.64% of the stock is currently owned by company insiders.
About Alphabet
(
Free Report)
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.
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