WASHINGTON TRUST Co Sells 5,583 Shares of Alphabet Inc. $GOOGL

WASHINGTON TRUST Co lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 386,337 shares of the information services provider’s stock after selling 5,583 shares during the period. Alphabet comprises approximately 4.0% of WASHINGTON TRUST Co’s investment portfolio, making the stock its 2nd largest holding. WASHINGTON TRUST Co’s holdings in Alphabet were worth $132,931,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. EMC Capital Management purchased a new stake in Alphabet during the second quarter worth $35,000. Core Capital Management & Research inc. purchased a new position in Alphabet in the second quarter valued at $41,000. Intelligent Financial Strategies purchased a new position in Alphabet in the third quarter valued at $41,000. Premier Financial Group purchased a new position in Alphabet in the second quarter valued at $45,000. Finally, Van Den Berg Management I Inc. raised its position in shares of Alphabet by 319.6% in the first quarter. Van Den Berg Management I Inc. now owns 214 shares of the information services provider’s stock worth $61,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $450.00 target price on shares of Alphabet in a research note on Thursday. Susquehanna cut their price target on Alphabet from $460.00 to $400.00 and set a “positive” rating for the company in a research note on Thursday. Citizens Jmp cut Alphabet from a “market outperform” rating to a “hold” rating in a report on Thursday. Cantor Fitzgerald lowered their price target on Alphabet from $420.00 to $350.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Guggenheim reissued a “buy” rating and issued a $450.00 price objective on shares of Alphabet in a report on Thursday. Five research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $410.46.

Alphabet Price Performance

Shares of Alphabet stock opened at $279.84 on Friday. The stock has a market capitalization of $3.42 trillion, a P/E ratio of 14.61, a PEG ratio of 0.83 and a beta of 1.21. The business has a 50 day simple moving average of $339.07 and a two-hundred day simple moving average of $340.17. Alphabet Inc. has a 12 month low of $270.70 and a 12 month high of $408.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 2.64.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.90). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The firm had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.96 billion. As a group, analysts predict that Alphabet Inc. will post 20.40 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 83 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the transaction, the director owned 19,076 shares in the company, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 247 shares of company stock valued at $79,238. 11.61% of the stock is currently owned by corporate insiders.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue more than doubled year over year to approximately $30.7 billion, while its backlog reached $561 billion. The results support Alphabet’s position as a major beneficiary of enterprise AI demand. Alphabet’s Cloud Business Just Doubled
• Positive Sentiment: Several analysts remain constructive after the selloff. Guggenheim and Needham reaffirmed “buy” ratings with $450 targets, while Citigroup and Wells Fargo retained bullish ratings and projected substantial upside despite lowering their targets.
• Positive Sentiment: Alphabet’s AI ecosystem could gain from rising demand for cloud capacity and specialized chips. Waymo is also expanding internationally through a partnership with Toyota, although the business remains small relative to Alphabet’s core operations. Waymo taps Toyota to supply robotaxis
• Neutral Sentiment: Multiple securities law firms publicized class-action lawsuits and lead-plaintiff deadlines tied to alleged disclosures about Alphabet’s Gemini AI development. These notices add headline risk, but their direct financial impact remains uncertain.
• Negative Sentiment: Alphabet reported adjusted earnings of $2.12 per share, below consensus near $2.94-$3.02, while revenue of $127.6 billion also missed expectations. Search and other revenue grew about 12% to roughly $63 billion, but fell short of forecasts, reinforcing fears that AI-generated answers and “AI mode” searches may monetize less effectively than traditional Search.
• Negative Sentiment: AI infrastructure spending caused free cash flow to remain negative by roughly $9.1 billion for a second consecutive quarter. Investors are questioning whether the enormous capital outlays will produce adequate returns and whether Alphabet may need additional debt or equity financing.
• Negative Sentiment: An unrealized loss on Alphabet’s SpaceX investment reduced quarterly earnings by approximately $0.55 per share, while an EU antitrust fine further pressured results. Analysts including RBC, Wells Fargo, Citigroup, Wedbush, KeyCorp and Cantor Fitzgerald lowered price targets, even though most maintained positive ratings.

Alphabet Company Profile

Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.

Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.

Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.