Washington Trust Bank raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,455 shares of the information services provider’s stock after acquiring an additional 7,351 shares during the quarter. Washington Trust Bank’s holdings in Alphabet were worth $8,334,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in GOOGL. Birch Capital Management LLC lifted its position in shares of Alphabet by 49.6% in the 4th quarter. Birch Capital Management LLC now owns 3,920 shares of the information services provider’s stock worth $346,000 after buying an additional 1,300 shares during the last quarter. Colony Family Offices LLC lifted its position in shares of Alphabet by 2.2% in the 4th quarter. Colony Family Offices LLC now owns 9,440 shares of the information services provider’s stock worth $833,000 after buying an additional 200 shares during the last quarter. Strengthening Families & Communities LLC lifted its position in shares of Alphabet by 1.6% in the 4th quarter. Strengthening Families & Communities LLC now owns 13,461 shares of the information services provider’s stock worth $1,188,000 after buying an additional 218 shares during the last quarter. Y.D. More Investments Ltd bought a new position in shares of Alphabet in the 4th quarter worth about $5,259,000. Finally, Wittenberg Investment Management Inc. lifted its position in shares of Alphabet by 1.6% in the 4th quarter. Wittenberg Investment Management Inc. now owns 124,050 shares of the information services provider’s stock worth $10,945,000 after buying an additional 2,000 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors.
Insider Activity
In other news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the sale, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the transaction, the director now directly owns 144,740 shares in the company, valued at $14,474,000. The disclosure for this sale can be found here. Insiders have sold 100,539 shares of company stock worth $10,214,031 over the last 90 days. 11.44% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Alphabet Stock Up 0.1 %
GOOGL stock opened at $105.41 on Thursday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $122.85. The company’s 50 day simple moving average is $101.00 and its 200-day simple moving average is $96.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.34. The firm has a market capitalization of $1.35 trillion, a P/E ratio of 23.48, a P/E/G ratio of 1.39 and a beta of 1.10.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The business had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current year.
Alphabet Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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