First Hawaiian Bank Sells 2,510 Shares of Alphabet Inc. (NASDAQ:GOOG)

First Hawaiian Bank trimmed its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,449 shares of the information services provider's stock after selling 2,510 shares during the quarter. First Hawaiian Bank's holdings in Alphabet were worth $6,163,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ARQ Wealth Advisors LLC increased its holdings in Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after acquiring an additional 1,400 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its stake in Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after purchasing an additional 1,041 shares during the period. Harvest Investment Services LLC boosted its stake in Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after purchasing an additional 138 shares during the period. North Forty Two & Co. bought a new position in Alphabet in the 4th quarter worth approximately $281,000. Finally, jvl associates llc boosted its stake in Alphabet by 3.5% in the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after purchasing an additional 343 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Amie Thuener O'toole sold 1,374 shares of Alphabet stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director now owns 6,813 shares of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,533 shares of company stock worth $26,772,774 over the last three months. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Susquehanna restated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Scotiabank dropped their price target on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Morgan Stanley restated an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Oppenheimer increased their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $203.94.

Alphabet Trading Down 1.2%

GOOG traded down $2.09 during trading on Friday, reaching $170.87. The company had a trading volume of 36,230,934 shares, compared to its average volume of 20,270,754. The stock has a market cap of $2.07 trillion, a P/E ratio of 21.23, a PEG ratio of 1.34 and a beta of 1.01. The business has a 50 day simple moving average of $160.88 and a 200-day simple moving average of $176.30. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Alphabet's revenue was up 12.0% on a year-over-year basis. During the same period last year, the company earned $1.89 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

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.