First Hawaiian Bank Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

First Hawaiian Bank lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,905 shares of the information services provider’s stock after selling 671 shares during the quarter. Alphabet accounts for 0.6% of First Hawaiian Bank’s investment portfolio, making the stock its 23rd largest holding. First Hawaiian Bank’s holdings in Alphabet were worth $16,740,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GOOGL. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth $15,441,917,000. Capital Research Global Investors grew its stake in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Vanguard Group Inc. grew its stake in shares of Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado grew its stake in Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after acquiring an additional 6,010,548 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after acquiring an additional 5,336,359 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOOGL. KeyCorp increased their price objective on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Susquehanna raised their price target on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Argus raised their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the sale, the chief executive officer now owns 2,258,011 shares in the company, valued at $391,132,665.42. The disclosure for this sale can be found here. Insiders have sold a total of 99,808 shares of company stock worth $17,732,125 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 0.6 %

GOOGL stock opened at $158.29 on Wednesday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.95 trillion, a P/E ratio of 24.28, a PEG ratio of 1.28 and a beta of 1.05. The firm has a 50 day simple moving average of $177.75 and a 200-day simple moving average of $161.77.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the company posted $1.44 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

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.