Bank of Hawaii Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Bank of Hawaii reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 22.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,536 shares of the information services provider’s stock after selling 13,915 shares during the period. Bank of Hawaii’s holdings in Alphabet were worth $9,188,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Compass Planning Associates Inc purchased a new stake in shares of Alphabet during the 4th quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $39,000. PayPay Securities Corp increased its stake in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the period. Finally, Denver PWM LLC increased its position in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $159.07 on Tuesday. The firm’s 50 day moving average price is $167.87 and its 200 day moving average price is $176.28. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a market cap of $1.94 trillion, a PE ratio of 19.76, a PEG ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last issued 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%. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently issued reports on GOOGL shares. Wells Fargo & Company cut their price target on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating on the stock in a report on Monday, March 31st. JMP Securities restated a “market perform” rating on shares of Alphabet in a research report on Thursday, April 10th. Stifel Nicolaus upped their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $225.00 price target on shares of Alphabet in a report on Wednesday, February 5th. Finally, Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $205.49.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,497 shares of company stock valued at $20,837,150. 11.55% of the stock is owned by company insiders.

Alphabet 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.