Washington Trust Advisors Inc. Sells 3,441 Shares of Alphabet Inc. (NASDAQ:GOOG)

Washington Trust Advisors Inc. cut its position in Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 253,993 shares of the information services provider’s stock after selling 3,441 shares during the quarter. Alphabet accounts for 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.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOG. Well Done LLC boosted its holdings 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 stake in shares of Alphabet by 4.1% during the 4th quarter. WASHINGTON TRUST Co now owns 29,012 shares of the information services provider’s stock worth $4,089,000 after buying an additional 1,149 shares in the last quarter. 25 LLC acquired a new stake in Alphabet in the fourth quarter valued at $1,699,000. Altfest L J & Co. Inc. boosted its holdings in 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 in the last quarter. Finally, West Wealth Group LLC boosted its position in Alphabet by 7.4% during the fourth 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 in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 425 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total transaction of $59,334.25. Following the completion of the transaction, the chief accounting officer now owns 27,259 shares of the company’s stock, valued at approximately $3,805,628.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total transaction of $28,698.00. Following the sale, the director now owns 6,784 shares of the company’s stock, valued at approximately $973,436.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 425 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total value of $59,334.25. Following the sale, the chief accounting officer now directly owns 27,259 shares in the company, valued at approximately $3,805,628.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,378 shares of company stock valued at $35,461,377. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG stock traded up $0.35 during midday trading on Thursday, hitting $152.29. 8,732,884 shares of the company traded hands, compared to its average volume of 22,922,719. The business has a 50 day simple moving average of $144.57 and a 200-day simple moving average of $139.30. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a twelve month low of $100.29 and a twelve month high of $155.20.

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

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.