Alphabet Inc. $GOOGL Shares Sold by First Hawaiian Bank

First Hawaiian Bank lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 97.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,135 shares of the information services provider's stock after selling 101,336 shares during the period. First Hawaiian Bank's holdings in Alphabet were worth $330,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GOOGL. Brighton Jones LLC lifted its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares during the period. Highview Capital Management LLC DE lifted its position in Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after buying an additional 1,003 shares during the period. Forum Financial Management LP lifted its position in Alphabet by 6.4% during the fourth quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider's stock worth $14,985,000 after buying an additional 4,756 shares during the period. Finally, Strive Asset Management LLC purchased a new position in Alphabet during the fourth quarter worth about $218,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. The trade was a 8.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $49,208,380 in the last quarter. Corporate insiders own 11.55% of the company's stock.

Alphabet Trading Up 4.5%

NASDAQ:GOOGL opened at $251.61 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $252.41. The stock's 50-day moving average is $203.39 and its two-hundred day moving average is $178.15. The stock has a market cap of $3.04 trillion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOGL. Stifel Nicolaus increased their target price on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. JMP Securities raised their price objective on Alphabet from $225.00 to $250.00 and gave the stock a "market outperform" rating in a report on Wednesday, September 3rd. Barclays raised their price objective on Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Susquehanna raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Finally, Tigress Financial raised their price objective on Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $222.85.

Alphabet 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.

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