Alphabet Inc. $GOOGL Shares Bought by WASHINGTON TRUST Co

WASHINGTON TRUST Co grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 414,387 shares of the information services provider’s stock after buying 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 position. WASHINGTON TRUST Co’s holdings in Alphabet were worth $73,027,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. grew its position in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Alphabet by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after purchasing an additional 4,224,497 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after buying an additional 4,473,901 shares during the period. Invesco Ltd. lifted its holdings in shares of Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after acquiring an additional 593,345 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after purchasing an additional 727,335 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. Canaccord Genuity Group upped their target price on shares of Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. BMO Capital Markets set a $294.00 price target on Alphabet and gave the stock an “outperform” rating in a report on Thursday, October 9th. Mizuho set a $325.00 target price on Alphabet in a research report on Thursday, October 30th. Melius Research upped their price objective on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Finally, Susquehanna boosted their price objective on Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research note on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, forty have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.84.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the transaction, the director directly owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This trade represents a 11.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the transaction, the chief executive officer owned 2,304,619 shares in the company, valued at $683,642,180.16. The trade was a 1.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 225,174 shares of company stock valued at $58,095,223 in the last ninety days. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

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

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share 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 company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

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.