Sumitomo Life Insurance Co. Has $22.44 Million Position in Alphabet Inc. $GOOG

Key Points

• Sumitomo Life Insurance increased its Alphabet stake by 19.7% in the fourth quarter, ending with 71,504 shares valued at about $22.44 million.
• Wall Street sentiment remains bullish on GOOG, with several firms raising price targets and the stock carrying a consensus Buy rating and average target of $376.78.
• Alphabet reported strong quarterly results, including EPS of $5.11 and revenue of $109.9 billion, while also increasing its quarterly dividend to $0.22 per share.

Sumitomo Life Insurance Co. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,504 shares of the information services provider's stock after acquiring an additional 11,782 shares during the period. Alphabet comprises about 0.6% of Sumitomo Life Insurance Co.'s investment portfolio, making the stock its 25th biggest position. Sumitomo Life Insurance Co.'s holdings in Alphabet were worth $22,438,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Ring Mountain Capital LLC raised its position in shares of Alphabet by 0.9% in the fourth quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider's stock valued at $1,174,000 after purchasing an additional 30 shares during the period. Cannon Financial Strategists Inc. increased its position in Alphabet by 1.9% during the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider's stock worth $499,000 after acquiring an additional 30 shares during the period. HRC Wealth Management LLC increased its position in Alphabet by 1.0% during the fourth quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider's stock worth $1,014,000 after acquiring an additional 31 shares during the period. Certior Financial Group LLC increased its position in Alphabet by 3.5% during the fourth quarter. Certior Financial Group LLC now owns 919 shares of the information services provider's stock worth $288,000 after acquiring an additional 31 shares during the period. Finally, Synergy Investment Management LLC increased its position in Alphabet by 0.8% during the fourth quarter. Synergy Investment Management LLC now owns 4,124 shares of the information services provider's stock worth $1,294,000 after acquiring an additional 31 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. TD Cowen raised their price target on shares of Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $395.00 to $460.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $450.00 price target on shares of Alphabet in a research report on Thursday, May 21st. Finally, Oppenheimer raised their price target on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $376.78.

Alphabet Trading Up 0.4%

Shares of Alphabet stock opened at $358.16 on Friday. The company has a market capitalization of $4.34 trillion, a price-to-earnings ratio of 27.32, a PEG ratio of 1.53 and a beta of 1.22. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $163.33 and a 12-month high of $404.47. The firm's 50-day moving average price is $357.71 and its two-hundred day moving average price is $329.44.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. The firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.81 earnings per share. On average, analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet's dividend payout ratio is currently 6.71%.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the sale, the director directly owned 2,531 shares in the company, valued at $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 617 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 193,016 shares of company stock valued at $17,282,549. Company insiders own 12.99% of the company's stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone-delivery unit Wing expanded into seven more U.S. cities with Walmart, reinforcing that its Other Bets can scale into real businesses and may be more valuable than the market gives them credit for.
• Positive Sentiment: Waymo launched a $29.99 monthly membership program, adding a recurring-revenue layer to its robotaxi business and highlighting rapid growth in paid rides, which investors may see as a meaningful long-term opportunity.
• Positive Sentiment: Several analyst and commentary pieces remain constructive on Alphabet’s AI, cloud, and search setup, with some calling it an AI powerhouse and lifting price targets, which supports the stock’s bullish narrative.
• Positive Sentiment: Google is also expanding its real-estate listings nationwide and continuing to deepen its AI infrastructure and chip strategy, reinforcing multiple growth avenues beyond search advertising.
• Neutral Sentiment: Google filed suit against an alleged Chinese cybercrime group that used AI to scam victims, a move that shows the company is actively defending its platforms, though the stock impact is likely limited unless the issue escalates.
• Neutral Sentiment: Alphabet declined a $2 billion U.S. quantum-computing funding program, saying the terms could slow development; that may be viewed as a strategic choice rather than a major financial event.
• Neutral Sentiment: News that some billionaire investors sold Alphabet in Q1 while others bought more adds to the debate, but it does not change the underlying business fundamentals by itself.
• Negative Sentiment: Some recent coverage continues to focus on worries about rising capital expenditures and AI monetization, which can pressure sentiment if investors fear Alphabet’s AI spending will take longer to pay off.
• Negative Sentiment: Alphabet’s AI Overview feature has also faced renewed controversy, adding another small overhang around search quality and user trust.

About Alphabet

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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