Alphabet Inc. $GOOGL Holdings Raised by WASHINGTON TRUST Co

WASHINGTON TRUST Co lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 414,387 shares of the information services provider’s stock after purchasing an additional 1,503 shares during the quarter. Alphabet accounts for 2.6% of WASHINGTON TRUST Co’s investment portfolio, making the stock its 10th largest holding. WASHINGTON TRUST Co’s holdings in Alphabet were worth $73,027,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bridgeway Capital Management LLC raised its holdings in shares of Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares during the last quarter. Alaethes Wealth LLC raised its stake in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after buying an additional 84 shares in the last quarter. Moment Partners LLC boosted its stake in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after buying an additional 504 shares in the last quarter. Welch Group LLC grew its holdings in Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after acquiring an additional 2,467 shares during the period. Finally, Elgethun Capital Management raised its position in Alphabet by 4.8% in the first quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock worth $1,312,000 after acquiring an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $323.44 on Wednesday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $3.90 trillion, a PE ratio of 31.90, a P/E/G ratio of 1.86 and a beta of 1.05. The stock has a 50-day simple moving average of $265.17 and a 200 day simple moving average of $216.20.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GOOGL. New Street Research raised their target price on shares of Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. Truist Financial lifted their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. CIBC increased their target price on Alphabet to $315.00 in a report on Monday, October 20th. BNP Paribas assumed coverage on Alphabet in a research note on Monday. They set an “outperform” rating and a $355.00 target price on the stock. Finally, Moffett Nathanson increased their price target on shares of Alphabet from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Tuesday. Five research analysts have rated the stock with a Strong Buy rating, forty have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $307.84.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 225,174 shares of company stock valued at $58,095,223 over the last quarter. Corporate insiders own 11.64% of the company’s stock.

About Alphabet

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.