First Hawaiian Bank Sells 40,254 Shares of Alphabet Inc. $GOOG

First Hawaiian Bank cut its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 95.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,705 shares of the information services provider's stock after selling 40,254 shares during the quarter. First Hawaiian Bank's holdings in Alphabet were worth $266,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. ARQ Wealth Advisors LLC raised its stake in shares of Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after purchasing an additional 1,400 shares during the period. Independence Bank of Kentucky raised its stake in shares of Alphabet by 10.2% during the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after purchasing an additional 1,376 shares during the period. Fermata Advisors LLC raised its stake in shares of Alphabet by 2.7% during the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after purchasing an additional 259 shares during the period. jvl associates llc raised its stake in shares of Alphabet by 3.5% during the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock valued at $1,571,000 after purchasing an additional 343 shares during the period. Finally, Members Trust Co raised its stake in shares of Alphabet by 84.7% during the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock valued at $781,000 after purchasing an additional 2,292 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. The Goldman Sachs Group restated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $227.56.

Alphabet Trading Up 4.3%

Shares of Alphabet stock opened at $251.76 on Tuesday. The firm has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.62 and a beta of 1.01. The business has a 50-day moving average price of $204.16 and a 200-day moving average price of $179.48. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $252.75.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the business posted $1.89 earnings per share. The firm's revenue was up 13.8% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid 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 of this dividend was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the transaction, the chief executive officer owned 2,462,392 shares of the company's stock, valued at $492,281,408.64. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,710 shares of company stock worth $49,208,380. 12.99% of the stock is currently owned by corporate insiders.

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.

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