Alphabet Inc. $GOOGL Shares Sold by Washington Trust Bank

Key Points

• Washington Trust Bank reduced its Alphabet position by 9.5% in the second quarter, selling 8,802 shares and retaining 83,617 shares valued at approximately $29.9 million.
• Analysts remain broadly bullish, with Alphabet receiving an average “Buy” rating and a consensus price target of $420.19; targets cited ranged from $400 to $515.
• Alphabet reported a strong quarter, with earnings of $9.11 per share and revenue of $119.8 billion, both exceeding expectations. The company also declared a quarterly dividend of $0.22 per share, while recent insider sales and legal scrutiny remain potential concerns.

Washington Trust Bank trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,617 shares of the information services provider's stock after selling 8,802 shares during the quarter. Alphabet comprises approximately 2.1% of Washington Trust Bank's portfolio, making the stock its 11th largest holding. Washington Trust Bank's holdings in Alphabet were worth $29,882,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Strategic Wealth Advisors LLC lifted its position in Alphabet by 6.0% during the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock worth $137,000 after buying an additional 27 shares in the last quarter. Rockbridge Investment Management LCC grew its holdings in Alphabet by 0.5% in the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock valued at $1,570,000 after buying an additional 27 shares in the last quarter. Ruggaard & Associates LLC increased its stake in shares of Alphabet by 0.9% in the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider's stock worth $840,000 after acquiring an additional 27 shares during the last quarter. Cadia Private Client LLC increased its stake in shares of Alphabet by 1.1% in the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock worth $744,000 after acquiring an additional 28 shares during the last quarter. Finally, Evansbrook LLC raised its holdings in shares of Alphabet by 0.3% during the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock worth $2,738,000 after acquiring an additional 28 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. BMO Capital Markets set a $465.00 price target on shares of Alphabet and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Citizens Jmp restated a "market outperform" rating and set a $515.00 price objective on shares of Alphabet in a research report on Wednesday, July 22nd. Wells Fargo & Company set a $411.00 target price on shares of Alphabet and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Morgan Stanley set a $400.00 target price on shares of Alphabet and gave the company an "overweight" rating in a report on Thursday, July 23rd. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $420.00 price target (down from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of "Buy" and a consensus target price of $420.19.

Insider Transactions at Alphabet

In other Alphabet news, insider John Walker sold 8,998 shares of Alphabet stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the transaction, the insider directly owned 75,290 shares of the company's stock, valued at $26,298,044.10. The trade was a 10.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the sale, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 451,925 shares of company stock valued at $12,371,544. 11.61% of the stock is owned by insiders.

Alphabet Stock Up 1.8%

NASDAQ:GOOGL opened at $338.50 on Friday. Alphabet Inc. has a 52 week low of $235.84 and a 52 week high of $408.61. The stock's fifty day moving average is $346.75 and its two-hundred day moving average is $343.66. The stock has a market capitalization of $4.14 trillion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 0.96 and a beta of 1.22. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $6.22. The business had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. Research analysts anticipate that Alphabet Inc. will post 20.52 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet's dividend payout ratio (DPR) is 4.42%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google agreed to secure nuclear power for 22 years, reportedly locking in roughly half of a plant’s output through 2049. The deal could provide more predictable electricity costs and reliable power for energy-intensive AI data centers, strengthening Alphabet’s infrastructure position. Alphabet Jumps 2.5% After Locking In 22 Years of Nuclear Power
• Positive Sentiment: Google completed its acquisition of AI startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees are joining Google, potentially adding talent focused on AI agents and automation. Google just completed its $1.5 billion-plus deal for AI startup Mechanize
• Positive Sentiment: Investor commentary highlighted Alphabet’s strong AI and cloud outlook. Google Cloud is reportedly growing 82% year over year, while Alphabet’s Gemini technology is expanding into professional video-editing software, supporting the case that AI can broaden enterprise revenue beyond search advertising. Microsoft Vs. Alphabet: The Enterprise Fight No One Saw Coming
• Positive Sentiment: Recent coverage continues to present Alphabet as attractively valued relative to its growth prospects. The company’s latest reported quarter exceeded expectations, with earnings of $9.11 per share versus a $2.89 consensus estimate and revenue of $119.8 billion versus $117.07 billion expected.
• Neutral Sentiment: Alphabet’s inclusion among major AI and cloud beneficiaries, along with Berkshire Hathaway’s reported position in the company, may support investor interest but does not represent a new operating catalyst. Berkshire Hathaway Has a New Top Holding, and It Dominates Its Market
• Negative Sentiment: A law firm said it is continuing an investigation into possible federal securities-law violations involving Alphabet. The announcement does not establish wrongdoing, but it introduces a potential legal and reputational overhang. Securities Fraud Investigation Into Alphabet Continues
• Negative Sentiment: Alphabet faces scrutiny over the scale of AI infrastructure spending, potential financing pressure across the AI industry, and electricity-demand concerns related to new data centers. Finland opposition parties have warned that Google’s expansion could strain local power supplies and raise energy costs. Finland Risks Strained Power Supply After Google AI Deal

Alphabet Company Profile

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet's largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.

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