First Hawaiian Bank Sells 5,067 Shares of Alphabet Inc. (NASDAQ:GOOG)

First Hawaiian Bank lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.9% during the first quarter, Holdings Channel reports. The firm owned 98,601 shares of the information services provider’s stock after selling 5,067 shares during the period. Alphabet accounts for about 0.5% of First Hawaiian Bank’s portfolio, making the stock its 29th largest position. First Hawaiian Bank’s holdings in Alphabet were worth $15,013,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet during the 4th quarter valued at about $26,000. Partnership Wealth Management LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth $32,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Alphabet during the 4th quarter worth $34,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer boosted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $165.67.

Alphabet Stock Performance

Alphabet stock opened at $176.45 on Thursday. The firm has a market capitalization of $2.18 trillion, a P/E ratio of 27.06, a P/E/G ratio of 1.31 and a beta of 1.01. The stock has a fifty day moving average price of $170.85 and a two-hundred day moving average price of $153.29. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $182.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter last year, the company posted $1.17 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, analysts anticipate that Alphabet Inc. will post 7.69 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the completion of the sale, the insider now directly owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at $362,012,608.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 12,084 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the sale, the insider now owns 48,717 shares in the company, valued at $7,365,523.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,958 shares of company stock worth $22,383,553. Corporate insiders own 12.99% of the company’s stock.

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.