Sumitomo Life Insurance Co. Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

Sumitomo Life Insurance Company, a major Japanese life insurance firm, reported a decrease of 4.7% or 1,838 shares in its holdings of Alphabet Inc.'s Class A common stock (NASDAQ: GOOG) during the fourth quarter of 2022, according to the company's latest 13F filing with the Securities and Exchange Commission (SEC). The filing, which institutional investors are required to submit quarterly, provides insight into their investment portfolios.

As of December 31, 2022, Sumitomo Life Insurance held a total of 80,555 shares of Alphabet, down from the previous quarter's total of 82,393 shares. This decrease was the result of selling off 4,003 shares of the tech giant's stock during the quarter.

Alphabet Inc., formerly known as Google, is a multinational technology company that specializes in internet-related services and products, including search, cloud computing, software, and hardware. The company's Class A common stock is listed on the NASDAQ stock exchange under the ticker symbol GOOG.

Sumitomo Life Insurance Company is one of Japan's leading life insurance providers, with a significant presence in the Japanese market. The company's investment decisions, as reflected in its 13F filings, provide valuable information for investors and market analysts seeking insights into the investment strategies of large institutional investors.

It is important to note that institutional investors' trading activities, such as buying or selling securities, do not necessarily indicate their views on a company's future performance or financial health. Instead, these transactions may be driven by various factors, including portfolio rebalancing, risk management, or market conditions.

In summary, according to the latest 13F filing, Sumitomo Life Insurance Company reduced its position in Alphabet Inc. by selling 4,003 shares during the fourth quarter of 2022, leaving the company with a total of 80,555 shares of the tech giant's Class A common stock.