WASHINGTON TRUST Co Acquires 841 Shares of Alphabet Inc. $GOOG

WASHINGTON TRUST Co increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,285 shares of the information services provider’s stock after buying an additional 841 shares during the quarter. WASHINGTON TRUST Co’s holdings in Alphabet were worth $4,308,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GOOG. Brighton Jones LLC lifted its stake in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Legacy Capital Wealth Partners LLC raised its position in Alphabet by 11.4% in the first quarter. Legacy Capital Wealth Partners LLC now owns 4,030 shares of the information services provider’s stock valued at $630,000 after purchasing an additional 411 shares during the last quarter. Litman Gregory Wealth Management LLC boosted its stake in shares of Alphabet by 6.2% during the first quarter. Litman Gregory Wealth Management LLC now owns 70,846 shares of the information services provider’s stock valued at $11,068,000 after purchasing an additional 4,111 shares in the last quarter. Dynasty Wealth Management LLC grew its holdings in shares of Alphabet by 1.2% during the first quarter. Dynasty Wealth Management LLC now owns 22,395 shares of the information services provider’s stock worth $3,499,000 after purchasing an additional 261 shares during the last quarter. Finally, Woodward Diversified Capital LLC increased its stake in shares of Alphabet by 4.1% in the first quarter. Woodward Diversified Capital LLC now owns 8,341 shares of the information services provider’s stock valued at $1,303,000 after buying an additional 331 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 2.9%

Shares of NASDAQ:GOOG opened at $279.12 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business’s 50-day moving average is $257.00 and its 200-day moving average is $208.69. The company has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter last year, the firm posted $2.12 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. 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 payout ratio is presently 8.28%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares in the company, valued at $4,098,584.61. The trade was a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the transaction, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 221,796 shares of company stock valued at $53,983,001. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GOOG shares. HSBC reiterated a “buy” rating and set a $335.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Bank of America increased their price objective on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Jefferies Financial Group raised their price objective on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Oppenheimer upped their target price on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Company Profile

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.