Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Bank of Hawaii

Bank of Hawaii cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.0% during the fourth quarter, HoldingsChannel reports. The fund owned 54,267 shares of the information services provider’s stock after selling 4,692 shares during the quarter. Alphabet comprises approximately 0.6% of Bank of Hawaii’s holdings, making the stock its 29th biggest position. Bank of Hawaii’s holdings in Alphabet were worth $10,335,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GOOG. FMR LLC raised its position in shares of Alphabet by 2.8% during the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock valued at $22,470,344,000 after acquiring an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock valued at $19,894,651,000 after acquiring an additional 1,219,606 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Alphabet by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider’s stock valued at $5,870,181,000 after acquiring an additional 875,480 shares during the last quarter. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth about $5,166,070,000. Finally, Invesco Ltd. boosted its position in shares of Alphabet by 5.0% during the 4th quarter. Invesco Ltd. now owns 19,939,547 shares of the information services provider’s stock valued at $3,797,287,000 after purchasing an additional 944,858 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the transaction, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 17,690 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,797 shares of company stock valued at $21,089,470 over the last 90 days. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. KeyCorp cut their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.33.

Alphabet Stock Up 9.9 %

GOOG stock opened at $161.06 on Thursday. The company has a market cap of $1.96 trillion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.34 and a beta of 1.04. The company has a 50 day moving average of $172.41 and a two-hundred day moving average of $177.97. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet’s payout ratio is presently 9.94%.

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.