WASHINGTON TRUST Co Has $4.50 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

WASHINGTON TRUST Co lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 26,918 shares of the information services provider’s stock after selling 1,307 shares during the period. WASHINGTON TRUST Co’s holdings in Alphabet were worth $4,500,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GOOG. Cullinan Associates Inc. increased its position in Alphabet by 8.4% during the 1st quarter. Cullinan Associates Inc. now owns 124,621 shares of the information services provider’s stock valued at $18,975,000 after purchasing an additional 9,612 shares during the period. Westhampton Capital LLC boosted its position in Alphabet by 23.9% during the first quarter. Westhampton Capital LLC now owns 4,040 shares of the information services provider’s stock valued at $615,000 after acquiring an additional 780 shares during the last quarter. Deepwater Asset Management LLC grew its holdings in Alphabet by 18.5% during the 1st quarter. Deepwater Asset Management LLC now owns 89,082 shares of the information services provider’s stock worth $13,564,000 after acquiring an additional 13,927 shares during the period. Exchange Capital Management Inc. raised its position in shares of Alphabet by 2.9% in the 1st quarter. Exchange Capital Management Inc. now owns 6,091 shares of the information services provider’s stock worth $927,000 after acquiring an additional 170 shares in the last quarter. Finally, Financial Strategies Group Inc. lifted its stake in shares of Alphabet by 22.8% in the 1st quarter. Financial Strategies Group Inc. now owns 43,876 shares of the information services provider’s stock valued at $6,939,000 after purchasing an additional 8,156 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock worth $35,993,340 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOG. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Canaccord Genuity Group upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup raised their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Trading Up 2.9 %

Shares of GOOG stock opened at $176.14 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 52-week low of $123.93 and a 52-week high of $193.31. The company has a 50-day simple moving average of $163.56 and a two-hundred day simple moving average of $170.30.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet 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.