WASHINGTON TRUST Co cut its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,593 shares of the information services provider’s stock after selling 759 shares during the quarter. Alphabet accounts for approximately 1.7% of WASHINGTON TRUST Co’s holdings, making the stock its 15th biggest holding. WASHINGTON TRUST Co’s holdings in Alphabet were worth $28,815,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of GOOGL. State of Alaska Department of Revenue bought a new position in shares of Alphabet in the second quarter worth approximately $102,000. Parkside Financial Bank & Trust grew its holdings in shares of Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after purchasing an additional 36 shares during the last quarter. Odey Holdings AG grew its holdings in shares of Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after purchasing an additional 20 shares during the last quarter. Farmers National Bank grew its holdings in shares of Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after purchasing an additional 4 shares during the last quarter. Finally, Lloyds Banking Group plc bought a new position in shares of Alphabet in the second quarter worth approximately $133,000. 33.63% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Inc (GOOGL) traded down $0.63 on Thursday, hitting $1,181.59. The stock had a trading volume of 3,675,709 shares, compared to its average volume of 1,450,000. Alphabet Inc has a 12-month low of $812.05 and a 12-month high of $1,198.00. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. The stock has a market cap of $816,680.00, a price-to-earnings ratio of 39.36, a PEG ratio of 1.54 and a beta of 0.90.
GOOGL has been the topic of several recent analyst reports. Goldman Sachs Group raised their target price on shares of Alphabet from $1,125.00 to $1,175.00 in a report on Friday, October 27th. SunTrust Banks cut their target price on shares of Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Barclays restated a “buy” rating and issued a $1,260.00 target price on shares of Alphabet in a report on Friday, October 27th. B. Riley restated a “buy” rating and issued a $1,200.00 target price (up previously from $1,050.00) on shares of Alphabet in a report on Friday, October 27th. Finally, Citigroup reiterated a “buy” rating and issued a $1,180.00 price target on shares of Alphabet in a report on Tuesday, October 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,118.74.
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Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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