Sumitomo Mitsui DS Asset Management Company Ltd Has $86.56 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 614,214 shares of the information services provider’s stock after selling 1,518 shares during the period. Alphabet makes up 1.1% of Sumitomo Mitsui DS Asset Management Company Ltd’s holdings, making the stock its 15th biggest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Alphabet were worth $86,561,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GOOG. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $26,000. Tandem Wealth Advisors LLC acquired a new stake in Alphabet in the third quarter worth $25,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet in the fourth quarter valued at $28,000. Buck Wealth Strategies LLC bought a new stake in Alphabet in the third quarter valued at $32,000. Finally, Barometer Capital Management Inc. acquired a new position in shares of Alphabet during the third quarter valued at about $32,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stifel Nicolaus boosted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James upped their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $159.86.

Alphabet Trading Up 1.4 %

NASDAQ GOOG opened at $157.95 on Tuesday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $147.65 and a 200 day simple moving average of $142.12. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The firm has a market capitalization of $1.96 trillion, a P/E ratio of 27.23, a PEG ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,339 shares of company stock worth $36,377,482. Insiders own 12.99% of the company’s stock.

About Alphabet

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.