Bank of Hawaii Sells 1,634 Shares of Alphabet Inc. $GOOGL

Key Points

• Bank of Hawaii reduced its holdings in Alphabet Inc. by 3.4% during the first quarter, leaving it with 46,902 shares valued at approximately $7.25 million after selling 1,634 shares.
• Insider sales revealed a 35.65% decrease in John Kent Walker's ownership after selling 23,820 shares, indicating significant activity from upper management.
• Analysts have recently raised price targets for Alphabet, with estimates now ranging from $180 to $225, suggesting a generally positive outlook for the stock.

Bank of Hawaii cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,902 shares of the information services provider's stock after selling 1,634 shares during the quarter. Bank of Hawaii's holdings in Alphabet were worth $7,253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Eagle Capital Management LLC boosted its position in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after purchasing an additional 371 shares in the last quarter. Brighton Jones LLC lifted its holdings 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 acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings 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 acquiring an additional 506 shares in the last quarter. Highview Capital Management LLC DE lifted its holdings 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 acquiring an additional 1,003 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Alphabet by 15.9% during the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL stock traded up $1.27 during mid-day trading on Friday, hitting $212.91. The stock had a trading volume of 39,702,089 shares, compared to its average volume of 28,893,466. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $214.65. The firm has a fifty day simple moving average of $190.44 and a 200 day simple moving average of $174.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.57 trillion, a P/E ratio of 22.67, a P/E/G ratio of 1.43 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 (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction dated Friday, July 18th. The stock was 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 in the company, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director owned 6,316 shares in the company, valued at $1,287,137.64. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,710 shares of company stock worth $47,225,230. Company insiders own 11.64% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Guggenheim lifted their price objective on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, August 21st. Piper Sandler boosted their price target on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Stifel Nicolaus boosted their price target on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Finally, Westpark Capital upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

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.