Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 467,551 shares of the information services provider’s stock after buying an additional 18,866 shares during the quarter. Alphabet comprises 0.8% of Sumitomo Mitsui DS Asset Management Company Ltd’s portfolio, making the stock its 27th biggest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Alphabet were worth $41,486,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in GOOG. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after buying an additional 400,930,216 shares during the last quarter. BlackRock Inc. increased its position in Alphabet by 1,857.3% in the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after purchasing an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD increased its position in Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after purchasing an additional 192,607,045 shares during the period. State Street Corp increased its position in Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after purchasing an additional 186,809,281 shares during the period. Finally, Alliancebernstein L.P. increased its position in Alphabet by 1,862.3% in the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock worth $6,075,223,000 after purchasing an additional 59,964,963 shares during the period. 28.69% of the stock is owned by institutional investors.
Alphabet Stock Up 3.8 %
GOOG opened at $108.90 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $98.63 and its 200 day simple moving average is $96.46. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $137.70. The stock has a market cap of $1.39 trillion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.10.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on GOOG shares. Oppenheimer boosted their target price on Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Credit Suisse Group set a $136.00 price objective on Alphabet in a research report on Friday, February 3rd. Raymond James boosted their price objective on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 price objective on Alphabet in a research report on Monday, February 6th. Finally, JPMorgan Chase & Co. set a $118.00 price objective on Alphabet in a research report on Thursday, February 9th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total value of $63,617.19. Following the transaction, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total value of $63,617.19. Following the sale, the chief accounting officer now directly owns 25,282 shares in the company, valued at $2,524,913.34. The disclosure for this sale can be found here. Insiders have sold a total of 112,192 shares of company stock valued at $11,373,417 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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