Washington Trust Bank Has $26.36 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Washington Trust Bank reduced its Alphabet stake by 6.3% in the fourth quarter, but still held 84,216 shares valued at about $26.36 million. Alphabet remained the bank’s 13th-largest holding, representing 1.8% of its portfolio.
• Alphabet reported strong quarterly results, with earnings of $5.11 per share versus $2.64 expected and revenue of $109.9 billion topping estimates. The company also showed solid profitability, with a 37.92% net margin and 38.99% return on equity.
• Alphabet raised its quarterly dividend to $0.22 per share from $0.21, payable June 15, though the yield remains modest at about 0.2%. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $412.94.

Washington Trust Bank decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,216 shares of the information services provider's stock after selling 5,674 shares during the period. Alphabet accounts for 1.8% of Washington Trust Bank's investment portfolio, making the stock its 13th biggest holding. Washington Trust Bank's holdings in Alphabet were worth $26,360,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. PMV Capital Advisers LLC bought a new position in Alphabet in the 4th quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd bought a new position in Alphabet in the 3rd quarter worth approximately $53,000. Kentucky Trust Co increased its position in Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock worth $53,000 after buying an additional 100 shares during the period. iSAM Funds UK Ltd bought a new position in Alphabet in the 3rd quarter worth approximately $53,000. Finally, Sellwood Investment Partners LLC bought a new position in Alphabet in the 3rd quarter worth approximately $63,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 617 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares in the company, valued at approximately $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 226,481 shares of company stock worth $27,422,061. Insiders own 11.61% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $380.34 on Friday. The company has a 50-day moving average of $345.77 and a 200-day moving average of $324.91. The company has a market capitalization of $4.61 trillion, a price-to-earnings ratio of 29.01, a PEG ratio of 1.63 and a beta of 1.26. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.98 billion. As a group, equities research analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet's dividend payout ratio (DPR) is presently 6.41%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud reported standout Q1’26 results, with revenue up 63% to $20 billion, a 32.9% margin, and a backlog that reached $462 billion, suggesting strong demand and improving profitability. GOOGL Rides on Surging Google Cloud Demand: More Upside Ahead?
• Positive Sentiment: Alphabet and Blackstone announced a partnership to build 500MW of U.S. data center capacity by 2027, underscoring Alphabet’s push to monetize TPU-powered AI compute as a service. Google and Blackstone partner on TPU-powered data centre capacity
• Positive Sentiment: Alphabet’s buy rating was reaffirmed by Barclays, adding to the bullish analyst tone around the stock. Alphabet Class A (GOOGL) Gets a Buy from Cantor Fitzgerald
• Positive Sentiment: Reuters reported that EQT partnered with Google Cloud to accelerate AI adoption across more than 300 portfolio companies, reinforcing Alphabet’s enterprise AI momentum. Private equity firm EQT partners with Google Cloud for AI rollout
• Neutral Sentiment: Waymo continued expanding its robotaxi fleet with lower-cost vehicles and new rider access, which supports Alphabet’s optionality in autonomous driving but is not an immediate earnings driver. Waymo opens Ojai robotaxis to select riders as company aims to lower cost of fleet expansion
• Negative Sentiment: Alphabet is facing fresh reputational and legal pressure after U.S. prosecutors charged a Google engineer in a Polymarket insider-trading case, and an Indian court ruling raised trademark-related ad risk. Indian court ruling on Google keyword ads could reshape online advertising
• Negative Sentiment: Some commentary also suggested Alphabet could face pressure as AI rivals like OpenAI and Anthropic raise larger funding war chests, keeping competition concerns in focus. Anthropic Leapfrogs OpenAI In Valuation. But Here's One Thing To Know.

Analysts Set New Price Targets

Several research analysts have commented on the company. Freedom Capital downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Roth Mkm restated a "buy" rating on shares of Alphabet in a research report on Thursday, April 30th. Rosenblatt Securities restated a "neutral" rating and issued a $393.00 price target on shares of Alphabet in a research report on Thursday, May 21st. Citigroup restated an "outperform" rating on shares of Alphabet in a research report on Monday, May 4th. Finally, Tigress Financial set a $415.00 price target on shares of Alphabet and gave the stock a "strong-buy" rating in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $412.94.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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