Sumitomo Life Insurance Co. Has $13.37 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Sumitomo Life Insurance Co. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,222 shares of the information services provider’s stock after selling 1,542 shares during the period. Sumitomo Life Insurance Co.’s holdings in Alphabet were worth $13,373,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Czech National Bank lifted its position in shares of Alphabet by 5.1% in the third quarter. Czech National Bank now owns 978,396 shares of the information services provider’s stock valued at $163,578,000 after buying an additional 47,171 shares during the last quarter. Unique Wealth LLC lifted its position in shares of Alphabet by 2.3% in the third quarter. Unique Wealth LLC now owns 3,375 shares of the information services provider’s stock valued at $564,000 after buying an additional 76 shares during the last quarter. Meritas Wealth Management LLC lifted its position in shares of Alphabet by 4.6% in the third quarter. Meritas Wealth Management LLC now owns 1,516 shares of the information services provider’s stock valued at $253,000 after buying an additional 66 shares during the last quarter. Marotta Asset Management lifted its position in shares of Alphabet by 44.4% in the third quarter. Marotta Asset Management now owns 1,821 shares of the information services provider’s stock valued at $304,000 after buying an additional 560 shares during the last quarter. Finally, Farmers Trust Co. lifted its position in shares of Alphabet by 17.0% in the third quarter. Farmers Trust Co. now owns 2,872 shares of the information services provider’s stock valued at $480,000 after buying an additional 418 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GOOG. Scotiabank raised their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Citigroup lifted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Six equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,630 shares of company stock worth $22,258,133. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $205.60 on Friday. The stock’s fifty day moving average price is $189.70 and its two-hundred day moving average price is $175.54. Alphabet Inc. has a one year low of $131.55 and a one year high of $207.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $2.52 trillion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the company posted $1.55 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, research analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

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.