Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Washington Trust Bank

Washington Trust Bank reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 86,049 shares of the information services provider’s stock after selling 1,218 shares during the period. Alphabet makes up approximately 1.4% of Washington Trust Bank’s portfolio, making the stock its 27th biggest holding. Washington Trust Bank’s holdings in Alphabet were worth $14,271,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC boosted its holdings in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after buying an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after acquiring an additional 9,135,056 shares during the period. Capital Research Global Investors boosted its stake in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after acquiring an additional 4,662,809 shares during the period. Finally, Wulff Hansen & CO. increased its stake in shares of Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after purchasing an additional 4,410,811 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 3.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,295 shares of company stock valued at $30,698,791. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Down 1.2 %

Shares of GOOGL opened at $175.98 on Thursday. The firm’s 50-day moving average is $167.23 and its two-hundred day moving average is $170.40. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.15 trillion, a P/E ratio of 23.34, a PEG ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the business posted $1.55 EPS. On average, research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research analyst reports. Roth Mkm raised their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Evercore ISI boosted their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Pivotal Research boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group decreased their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Company 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.