Alphabet Inc. (NASDAQ:GOOG) Shares Sold by First Hawaiian Bank

First Hawaiian Bank reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,601 shares of the information services provider’s stock after selling 5,067 shares during the period. Alphabet makes up about 0.5% of First Hawaiian Bank’s holdings, making the stock its 29th largest position. First Hawaiian Bank’s holdings in Alphabet were worth $15,013,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in GOOG. Partnership Wealth Management LLC purchased a new position in Alphabet in the fourth quarter valued at about $26,000. Bruce G. Allen Investments LLC purchased a new position in Alphabet in the 4th quarter valued at approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet during the fourth quarter worth $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter worth $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in Alphabet in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $176.45 on Thursday. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $182.08. The company’s 50 day simple moving average is $170.85 and its 200 day simple moving average is $153.29. The company has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, sell-side analysts predict that Alphabet Inc. will post 7.69 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 12,084 shares of Alphabet stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the transaction, the insider now owns 48,717 shares in the company, valued at approximately $7,365,523.23. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 12,084 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the sale, the insider now directly owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,958 shares of company stock valued at $22,383,553. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GOOG shares. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Finally, Oppenheimer raised their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $165.67.

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.