WASHINGTON TRUST Co Has $4.09 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

WASHINGTON TRUST Co lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,012 shares of the information services provider’s stock after acquiring an additional 1,149 shares during the quarter. WASHINGTON TRUST Co’s holdings in Alphabet were worth $4,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. 25 LLC acquired a new position in Alphabet in the 4th quarter valued at approximately $1,699,000. Altfest L J & Co. Inc. grew its stake in shares of Alphabet by 10.2% in the fourth quarter. Altfest L J & Co. Inc. now owns 41,894 shares of the information services provider’s stock worth $5,904,000 after purchasing an additional 3,879 shares during the last quarter. West Wealth Group LLC raised its position in Alphabet by 7.4% during the 4th quarter. West Wealth Group LLC now owns 1,940 shares of the information services provider’s stock worth $273,000 after purchasing an additional 134 shares during the last quarter. Procyon Advisors LLC lifted its holdings in Alphabet by 4.6% during the 4th quarter. Procyon Advisors LLC now owns 68,450 shares of the information services provider’s stock worth $9,647,000 after buying an additional 3,018 shares during the period. Finally, Parisi Gray Wealth Management grew its position in shares of Alphabet by 2.0% in the 4th quarter. Parisi Gray Wealth Management now owns 16,284 shares of the information services provider’s stock valued at $2,295,000 after buying an additional 320 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.1 %

Shares of Alphabet stock traded up $0.18 on Thursday, hitting $152.12. The company had a trading volume of 7,996,089 shares, compared to its average volume of 22,909,428. The stock has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 1.40 and a beta of 1.05. The stock has a 50 day moving average of $144.57 and a 200-day moving average of $139.30. Alphabet Inc. has a 1 year low of $100.29 and a 1 year high of $155.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 16,088 shares of Alphabet stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $139.10, for a total value of $2,237,840.80. Following the sale, the senior vice president now owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The disclosure for this sale can be found here. Insiders have sold a total of 251,378 shares of company stock worth $35,461,377 over the last three months. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOG. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Raymond James boosted their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average target price of $146.33.

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.