Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 113,049 shares of the information services provider’s stock after selling 4,476 shares during the quarter. Alphabet accounts for about 0.5% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 18th biggest position. Sumitomo Life Insurance Co.’s holdings in Alphabet were worth $15,792,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GOOGL. RWQ Financial Management Services Inc. increased its stake in shares of Alphabet by 8.2% during the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 4,664 shares during the period. Ballast Advisors LLC increased its stake in shares of Alphabet by 9.6% during the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after acquiring an additional 1,385 shares during the period. Quantum Financial Advisors LLC increased its stake in shares of Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after acquiring an additional 564 shares during the period. Acadian Asset Management LLC increased its stake in shares of Alphabet by 2.4% during the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after acquiring an additional 104,366 shares during the period. Finally, NatWest Group plc increased its stake in shares of Alphabet by 239.0% during the fourth quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after acquiring an additional 71,057 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Redburn Atlantic raised their price objective on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. BMO Capital Markets restated an “outperform” rating and issued a $185.00 price target (up previously from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Canaccord Genuity Group raised their price objective on Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. KeyCorp upped their target price on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Finally, Mizuho upped their target price on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Five investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.41.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $154.09 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market cap of $1.92 trillion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 1.42 and a beta of 1.05. The business’s 50-day simple moving average is $146.26 and its 200-day simple moving average is $140.64. Alphabet Inc. has a 52 week low of $102.63 and a 52 week high of $160.22.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the prior year, the firm posted $1.05 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,339 shares of company stock valued at $36,377,482. Insiders own 0.88% of the company’s stock.

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.