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

Sumitomo Life Insurance Co. decreased its holdings in Alphabet Inc (NASDAQ:GOOGL) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,818 shares of the information services provider’s stock after selling 105 shares during the quarter. Alphabet comprises approximately 1.6% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 7th biggest holding. Sumitomo Life Insurance Co.’s holdings in Alphabet were worth $12,481,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wendell David Associates Inc. raised its holdings in shares of Alphabet by 7.6% in the 3rd quarter. Wendell David Associates Inc. now owns 5,405 shares of the information services provider’s stock worth $5,263,000 after purchasing an additional 383 shares during the period. Baker Ellis Asset Management LLC raised its holdings in shares of Alphabet by 2.5% during the 3rd quarter. Baker Ellis Asset Management LLC now owns 2,067 shares of the information services provider’s stock valued at $2,013,000 after buying an additional 51 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in shares of Alphabet by 1.8% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 474,258 shares of the information services provider’s stock valued at $461,794,000 after buying an additional 8,185 shares during the period. Graybill Bartz & Assoc Ltd. raised its holdings in shares of Alphabet by 4.1% during the 3rd quarter. Graybill Bartz & Assoc Ltd. now owns 2,587 shares of the information services provider’s stock valued at $2,519,000 after buying an additional 102 shares during the period. Finally, Howe & Rusling Inc. raised its holdings in shares of Alphabet by 1,567.9% during the 3rd quarter. Howe & Rusling Inc. now owns 884 shares of the information services provider’s stock valued at $861,000 after buying an additional 831 shares during the period. 33.55% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on GOOGL shares. CIBC restated an “outperform” rating and set a $1,180.00 price objective (up previously from $1,050.00) on shares of Alphabet in a research note on Friday, October 27th. Pivotal Research reiterated a “hold” rating and issued a $970.00 target price on shares of Alphabet in a research report on Friday, October 13th. Citigroup restated a “buy” rating and set a $1,180.00 price objective on shares of Alphabet in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Vetr lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 target price on the stock. in a research report on Friday, October 6th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Alphabet in a report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $1,098.50.

Alphabet Inc (GOOGL) traded up $1.91 during mid-day trading on Thursday, reaching $1,112.05. 1,109,100 shares of the company traded hands, compared to its average volume of 1,550,000. Alphabet Inc has a 1-year low of $812.05 and a 1-year high of $1,119.16. The firm has a market capitalization of $769,900.00, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The company had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. During the same quarter in the prior year, the business posted $9.06 EPS. equities analysts anticipate that Alphabet Inc will post 32.34 earnings per share for the current year.

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About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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