WASHINGTON TRUST Co lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 412,884 shares of the information services provider's stock after selling 8,863 shares during the quarter. Alphabet makes up about 2.4% of WASHINGTON TRUST Co's holdings, making the stock its 11th biggest holding. WASHINGTON TRUST Co's holdings in Alphabet were worth $63,848,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Insight Inv LLC lifted its position in shares of Alphabet by 114.4% during the 1st quarter. Insight Inv LLC now owns 37,909 shares of the information services provider's stock worth $5,862,000 after buying an additional 20,229 shares during the last quarter. Nabity Jensen Investment Management Inc lifted its position in shares of Alphabet by 1.3% during the 1st quarter. Nabity Jensen Investment Management Inc now owns 8,623 shares of the information services provider's stock worth $1,333,000 after buying an additional 114 shares during the last quarter. Pacific Wealth Strategies Group Inc. lifted its position in shares of Alphabet by 0.3% during the 1st quarter. Pacific Wealth Strategies Group Inc. now owns 27,261 shares of the information services provider's stock worth $4,216,000 after buying an additional 93 shares during the last quarter. Argent Advisors Inc. lifted its position in shares of Alphabet by 36.6% during the 1st quarter. Argent Advisors Inc. now owns 14,102 shares of the information services provider's stock worth $2,181,000 after buying an additional 3,778 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its position in Alphabet by 1.9% in the 1st quarter. Canandaigua National Bank & Trust Co. now owns 22,713 shares of the information services provider's stock valued at $3,512,000 after purchasing an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Insider Buying and Selling at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director directly owned 6,813 shares of the company's stock, valued at $1,192,275. The trade was a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 over the last 90 days. 11.64% of the stock is owned by corporate insiders.
Alphabet Trading Up 0.2%
NASDAQ GOOGL traded up $0.44 during mid-day trading on Friday, hitting $179.08. The company's stock had a trading volume of 21,689,729 shares, compared to its average volume of 31,590,492. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock's fifty day simple moving average is $168.70 and its two-hundred day simple moving average is $173.87. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market capitalization of $2.17 trillion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the firm posted $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet's dividend payout ratio (DPR) is 9.36%.
Analyst Ratings Changes
Several analysts recently commented on the stock. Bank of America upped their price target on shares of Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, April 23rd. KeyCorp upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Citigroup reiterated a "buy" rating and issued a $203.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Tuesday, June 24th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $189.00 price target on shares of Alphabet in a research report on Wednesday, May 21st. Ten analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $199.95.
Get Our Latest Stock Analysis on Alphabet
About Alphabet
(
Free Report)
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.
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