Lockheed Martin Investment Management Co. significantly expanded its holdings in Alphabet Inc. during the third quarter. The firm acquired an additional 36,900 shares, bringing its total ownership to 42,500 shares. The investment was valued at approximately $10.35 million.
This increase reflects a notable change in the institutional investor’s portfolio allocation toward Alphabet, a leading company in the information services sector.
**Why this matters**
Institutional investments can signal confidence in a company’s future prospects. Lockheed Martin Investment Management’s substantial purchase may indicate positive expectations for Alphabet’s performance or strategic value in its portfolio. Such moves often attract attention from other investors and can influence market perceptions.
Source: NewsData