Lockheed Martin Investment Management Co. Invests $3.27 Million in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Lockheed Martin Investment Management Co. has invested approximately $3.27 million in Alphabet Inc., acquiring 20,900 shares during the first quarter.
• Insider transactions revealed CEO Sundar Pichai sold 32,500 shares worth over $6.3 million, leading to a 1.29% decrease in his holdings.
• Alphabet recently declared a quarterly dividend of $0.21 per share, reflecting a 0.4% yield and an annualized payout ratio of 8.95%.

Lockheed Martin Investment Management Co. purchased a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,900 shares of the information services provider's stock, valued at approximately $3,265,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOG. LSV Asset Management purchased a new position in shares of Alphabet during the 4th quarter worth approximately $27,000. Principia Wealth Advisory LLC boosted its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the 1st quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Finally, Goodman Advisory Group LLC purchased a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOG stock traded up $2.53 on Tuesday, hitting $204.16. The company's stock had a trading volume of 19,850,294 shares, compared to its average volume of 24,088,352. The firm has a 50 day moving average of $182.53 and a two-hundred day moving average of $174.34. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 EPS. Equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 274,219 shares of company stock worth $49,674,273. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

GOOG has been the subject of a number of research analyst reports. Cowen reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Roth Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Pivotal Research boosted their price target on shares of Alphabet from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

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.