Sumitomo Mitsui DS Asset Management Company Ltd Purchases 45,767 Shares of Alphabet Inc. $GOOG

Key Points

• Sumitomo Mitsui DS Asset Management increased its Alphabet stake by 5.9% in the fourth quarter, buying 45,767 more shares and bringing its total holdings to 818,555 shares worth about $256.9 million.
• Alphabet’s latest quarterly results were strong, with EPS of $5.11 beating estimates and revenue rising 21.8% year over year to $109.9 billion.
• Analyst sentiment remains upbeat, with several firms raising price targets and the stock carrying a Buy consensus rating, while Alphabet also announced a small dividend increase to $0.22 per share.

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 818,555 shares of the information services provider's stock after buying an additional 45,767 shares during the quarter. Alphabet accounts for about 2.0% of Sumitomo Mitsui DS Asset Management Company Ltd's investment portfolio, making the stock its 7th largest position. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Alphabet were worth $256,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Imprint Wealth LLC bought a new position in shares of Alphabet during the 3rd quarter worth approximately $31,000. Manning & Napier Advisors LLC bought a new position in shares of Alphabet during the 3rd quarter worth approximately $32,000. Nvest Wealth Strategies Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Towne Trust Company N.A lifted its position in shares of Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after buying an additional 34 shares during the period. Finally, Lynch Asset Management Inc. bought a new position in shares of Alphabet during the 3rd quarter worth approximately $61,000. Institutional investors own 27.26% of the company's stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
• Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
• Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
• Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
• Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
• Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
• Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
• Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman's Pershing Square Capital Management, L.P. Just Disclosed New Holdings
• Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOG. JPMorgan Chase & Co. raised their target price on Alphabet from $395.00 to $460.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Piper Sandler restated an "overweight" rating and set a $395.00 target price on shares of Alphabet in a research report on Thursday, February 5th. Pivotal Research reiterated a "buy" rating and issued a $470.00 price objective (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. KeyCorp set a $370.00 price objective on Alphabet in a research report on Thursday, February 5th. Finally, Scotiabank reiterated an "outperform" rating and issued a $450.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $363.40.

Insider Buying and Selling

In other news, CAO Amie Thuener O'toole sold 617 shares of Alphabet stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares of the company's stock, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares of the company's stock, valued at $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 157,953 shares of company stock worth $47,767,818. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 1.0%

Shares of GOOG opened at $393.32 on Friday. The stock has a fifty day moving average price of $327.44 and a two-hundred day moving average price of $316.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet Inc. has a 52-week low of $163.33 and a 52-week high of $399.93. The company has a market cap of $4.77 trillion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.70 and a beta of 1.25.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter in the previous year, the company posted $2.81 EPS. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a $0.22 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's payout ratio is 6.41%.

Alphabet Profile

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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