Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 5.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,024,805 shares of the information services provider’s stock after buying an additional 57,408 shares during the period. Alphabet accounts for approximately 1.3% of Sumitomo Mitsui Trust Holdings Inc.’s holdings, making the stock its 6th biggest position. Sumitomo Mitsui Trust Holdings Inc. owned 0.15% of Alphabet worth $1,143,324,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the stock. Point72 Asset Management L.P. grew its position in Alphabet by 349.3% in the 1st quarter. Point72 Asset Management L.P. now owns 38,146 shares of the information services provider’s stock worth $39,359,000 after purchasing an additional 53,446 shares during the last quarter. Pinnacle Financial Partners Inc. grew its position in Alphabet by 8.6% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 2,132 shares of the information services provider’s stock worth $2,378,000 after purchasing an additional 168 shares during the last quarter. Cetera Advisors LLC grew its position in Alphabet by 6.3% in the 1st quarter. Cetera Advisors LLC now owns 5,149 shares of the information services provider’s stock worth $5,181,000 after purchasing an additional 303 shares during the last quarter. DnB Asset Management AS grew its position in Alphabet by 6.2% in the 2nd quarter. DnB Asset Management AS now owns 37,615 shares of the information services provider’s stock worth $41,965,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Nwam LLC grew its position in Alphabet by 5.8% in the 2nd quarter. Nwam LLC now owns 1,985 shares of the information services provider’s stock worth $2,215,000 after purchasing an additional 109 shares during the last quarter. 34.20% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $1,160.42, for a total transaction of $11,604,200.00. Following the completion of the sale, the chief executive officer now directly owns 546 shares of the company’s stock, valued at $633,589.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 24 shares of the stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $1,100.00, for a total transaction of $26,400.00. Following the sale, the director now directly owns 1,870 shares of the company’s stock, valued at $2,057,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,362 shares of company stock valued at $105,424,908. Company insiders own 13.11% of the company’s stock.

Several research firms have commented on GOOG. Atlantic Securities restated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 24th. Robert W. Baird restated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 24th. Raymond James reaffirmed an “outperform” rating and issued a $1,405.00 price target (up from $1,240.00) on shares of Alphabet in a research note on Tuesday, July 24th. BidaskClub lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 3rd. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $1,276.48.

Shares of NASDAQ:GOOG opened at $1,184.65 on Wednesday. The company has a market capitalization of $811.54 billion, a PE ratio of 28.48 and a beta of 1.11. Alphabet Inc has a twelve month low of $921.14 and a twelve month high of $1,273.89. The company has a quick ratio of 4.13, a current ratio of 4.15 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, beating the consensus estimate of $9.66 by $2.09. Alphabet had a net margin of 13.16% and a return on equity of 18.24%. The business had revenue of $32.66 billion during the quarter, compared to analyst estimates of $32.13 billion. During the same period in the prior year, the business earned $5.01 earnings per share. The business’s quarterly revenue was up 25.6% on a year-over-year basis.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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