Sumitomo Life Insurance Co. Has $12 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Sumitomo Life Insurance Co. boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,764 shares of the information services provider’s stock after buying an additional 2,067 shares during the period. Alphabet makes up about 0.2% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 26th largest position. Sumitomo Life Insurance Co.’s holdings in Alphabet were worth $11,998,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOG. Safeguard Financial LLC raised its stake in Alphabet by 3.7% during the 3rd quarter. Safeguard Financial LLC now owns 4,152 shares of the information services provider’s stock valued at $694,000 after purchasing an additional 148 shares during the last quarter. Tsfg LLC lifted its stake in shares of Alphabet by 1.5% in the third quarter. Tsfg LLC now owns 15,883 shares of the information services provider’s stock valued at $2,656,000 after buying an additional 233 shares during the period. Nexus Investment Management ULC grew its position in Alphabet by 0.9% during the third quarter. Nexus Investment Management ULC now owns 210,543 shares of the information services provider’s stock worth $35,201,000 after buying an additional 1,880 shares in the last quarter. Roberts Wealth Advisors LLC raised its holdings in Alphabet by 1.3% in the 3rd quarter. Roberts Wealth Advisors LLC now owns 83,244 shares of the information services provider’s stock valued at $13,794,000 after acquiring an additional 1,069 shares in the last quarter. Finally, Piscataqua Savings Bank lifted its position in shares of Alphabet by 3.4% in the 3rd quarter. Piscataqua Savings Bank now owns 3,983 shares of the information services provider’s stock worth $666,000 after acquiring an additional 130 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOG stock opened at $166.74 on Thursday. The stock’s fifty day moving average is $163.17 and its 200-day moving average is $169.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The stock has a market capitalization of $2.06 trillion, a PE ratio of 25.57, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 earnings per share. Equities research analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Oppenheimer lowered their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet 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.