Sumitomo Mitsui Trust Holdings Inc. Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,788,015 shares of the information services provider’s stock after selling 174,459 shares during the period. Alphabet comprises approximately 1.5% of Sumitomo Mitsui Trust Holdings Inc.’s investment portfolio, making the stock its 7th biggest holding. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.12% of Alphabet worth $2,065,738,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Live Oak Investment Partners acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $26,000. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. acquired a new position in shares of Alphabet in the third quarter valued at approximately $38,000. Meritage Group LP grew its position in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the last quarter. Finally, Macroview Investment Management LLC grew its position in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.2 %

Shares of NASDAQ:GOOGL opened at $154.09 on Monday. The firm has a market cap of $1.92 trillion, a P/E ratio of 26.57, a P/E/G ratio of 1.42 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22. The business has a fifty day simple moving average of $146.26 and a 200 day simple moving average of $140.64.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period last year, the company earned $1.05 EPS. Analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GOOGL shares. Truist Financial increased their price target on Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Canaccord Genuity Group increased their price target on Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Citigroup reissued a “buy” rating and set a $168.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Roth Mkm reduced their price target on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Finally, Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $158.41.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,339 shares of company stock worth $36,377,482. Company insiders own 0.88% of the company’s stock.

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.