Alphabet Inc. (NASDAQ:GOOG) is Washington Trust Advisors Inc.’s 6th Largest Position

Washington Trust Advisors Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 253,993 shares of the information services provider’s stock after selling 3,441 shares during the period. Alphabet comprises approximately 3.4% of Washington Trust Advisors Inc.’s holdings, making the stock its 6th largest holding. Washington Trust Advisors Inc.’s holdings in Alphabet were worth $35,795,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Well Done LLC increased its position in shares of Alphabet by 5.9% in the 4th quarter. Well Done LLC now owns 4,163 shares of the information services provider’s stock valued at $587,000 after buying an additional 232 shares in the last quarter. WASHINGTON TRUST Co raised its holdings in Alphabet by 4.1% in the 4th quarter. WASHINGTON TRUST Co now owns 29,012 shares of the information services provider’s stock valued at $4,089,000 after acquiring an additional 1,149 shares in the last quarter. 25 LLC bought a new stake in Alphabet during the fourth quarter worth $1,699,000. Altfest L J & Co. Inc. grew its stake in shares of Alphabet by 10.2% during 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 buying an additional 3,879 shares during the last quarter. Finally, 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. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the sale, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Frances Arnold sold 240 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $140.51, for a total transaction of $33,722.40. Following the completion of the sale, the director now directly owns 14,815 shares in the company, valued at approximately $2,081,655.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. 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 in the last quarter. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Raymond James increased their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna increased their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $146.33.

Alphabet Stock Performance

GOOG traded up $0.35 during trading on Thursday, reaching $152.29. 8,732,884 shares of the company’s stock were exchanged, compared to its average volume of 22,922,719. The company’s fifty day simple moving average is $144.57 and its 200-day simple moving average is $139.30. The stock has a market capitalization of $1.89 trillion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. 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 current ratio of 2.10 and a quick ratio of 2.10.

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

Alphabet 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.