Sumitomo Mitsui Trust Group Inc. Has $2.29 Billion Position in Alphabet Inc. $GOOG

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 12,919,915 shares of the information services provider’s stock after buying an additional 122,688 shares during the quarter. Alphabet comprises 1.4% of Sumitomo Mitsui Trust Group Inc.’s portfolio, making the stock its 9th largest holding. Sumitomo Mitsui Trust Group Inc.’s holdings in Alphabet were worth $2,291,864,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GOOG. Brighton Jones LLC lifted its holdings in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Revisor Wealth Management LLC lifted its holdings in shares of Alphabet by 107.9% in the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock worth $572,000 after acquiring an additional 1,899 shares during the last quarter. 3Chopt Investment Partners LLC lifted its holdings in shares of Alphabet by 1.3% in the 1st quarter. 3Chopt Investment Partners LLC now owns 47,115 shares of the information services provider’s stock worth $7,361,000 after acquiring an additional 606 shares during the last quarter. Gold Investment Management Ltd. lifted its holdings in shares of Alphabet by 6.5% in the 1st quarter. Gold Investment Management Ltd. now owns 5,606 shares of the information services provider’s stock worth $876,000 after acquiring an additional 342 shares during the last quarter. Finally, BSW Wealth Partners lifted its holdings in shares of Alphabet by 21.4% in the 1st quarter. BSW Wealth Partners now owns 29,727 shares of the information services provider’s stock worth $4,644,000 after acquiring an additional 5,249 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 2.7%

NASDAQ GOOG opened at $260.51 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $3.15 trillion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.76 and a beta of 1.00. The company’s 50-day simple moving average is $237.33 and its two-hundred day simple moving average is $196.91. Alphabet Inc. has a one year low of $142.66 and a one year high of $262.51.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOG. Piper Sandler restated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp set a $265.00 target price on shares of Alphabet in a report on Wednesday, September 3rd. Robert W. Baird lifted their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, Pivotal Research lifted their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $249.68.

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.