First Hawaiian Bank Sells 5,151 Shares of Alphabet Inc. (NASDAQ:GOOGL)

First Hawaiian Bank lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 98,320 shares of the information services provider's stock after selling 5,151 shares during the period. Alphabet makes up 0.9% of First Hawaiian Bank's investment portfolio, making the stock its 29th biggest holding. First Hawaiian Bank's holdings in Alphabet were worth $15,204,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Alphabet in the fourth quarter worth about $24,383,677,000. FMR LLC raised its position in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. Northern Trust Corp raised its position in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Capital Research Global Investors raised its position in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Alphabet by 15.9% in 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 purchasing an additional 9,042,271 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock traded down $2.13 during trading on Friday, hitting $169.73. 52,598,920 shares of the stock were exchanged, compared to its average volume of 29,980,356. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $159.10 and a 200-day moving average price of $174.59. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the firm posted $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet's payout ratio is presently 9.36%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. DZ Bank cut shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective on the stock. in a research note on Thursday, February 6th. Wells Fargo & Company raised their price objective on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Tigress Financial increased their target price on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Finally, KeyCorp raised their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $199.75.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 1,374 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares of the company's stock, valued at $2,606,213.28. The trade was a 8.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company's stock, valued at $1,293,285.89. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,533 shares of company stock valued at $26,772,774. Company insiders own 11.55% 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.