First Hawaiian Bank Purchases 1,384 Shares of Alphabet Inc. (NASDAQ:GOOGL)

First Hawaiian Bank grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 103,471 shares of the information services provider’s stock after acquiring an additional 1,384 shares during the period. Alphabet accounts for about 0.6% of First Hawaiian Bank’s portfolio, making the stock its 19th largest position. First Hawaiian Bank’s holdings in Alphabet were worth $19,587,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Denver PWM LLC increased its position in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the last quarter. First PREMIER Bank raised its holdings in shares of Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the period. Cutler Investment Counsel LLC grew its holdings in Alphabet by 1.7% during the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after purchasing an additional 61 shares during the period. MKT Advisors LLC increased its position in Alphabet by 0.8% during the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after buying an additional 62 shares during the last quarter. Finally, Mendota Financial Group LLC lifted its position in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.8 %

NASDAQ:GOOGL traded down $1.54 during trading hours on Wednesday, reaching $193.95. The company had a trading volume of 24,452,541 shares, compared to its average volume of 23,853,354. The business’s 50-day simple moving average is $181.36 and its two-hundred day simple moving average is $172.72. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The firm has a market cap of $2.37 trillion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 1.35 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company posted $1.55 EPS. On average, equities analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at $4,085,531.55. The trade was a 12.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 155,887 shares of company stock worth $27,996,356 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOGL. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Truist Financial boosted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Pivotal Research increased their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $206.82.

About Alphabet

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.