First Hawaiian Bank Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

First Hawaiian Bank boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,471 shares of the information services provider’s stock after purchasing an additional 1,384 shares during the quarter. Alphabet comprises about 0.6% of First Hawaiian Bank’s holdings, making the stock its 19th largest position. First Hawaiian Bank’s holdings in Alphabet were worth $19,587,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. LMR Partners LLP purchased a new position in Alphabet during the third quarter worth approximately $32,000. Kings Path Partners LLC purchased a new position in shares of Alphabet in the 2nd quarter worth about $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet during the 2nd quarter worth about $41,000. Quarry LP purchased a new stake in shares of Alphabet during the 2nd quarter worth about $53,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Alphabet in the third quarter valued at approximately $66,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ:GOOGL traded down $1.54 during trading hours on Wednesday, hitting $193.95. The company’s stock had a trading volume of 24,452,541 shares, compared to its average volume of 23,853,354. The stock has a fifty day simple moving average of $181.36 and a 200-day simple moving average of $172.72. The company has a market capitalization of $2.37 trillion, a P/E ratio of 25.72, a PEG ratio of 1.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Loop Capital increased their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Pivotal Research raised their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Truist Financial boosted their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.82.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $164.95, for a total value of $247,425.00. Following the completion of the sale, the director now owns 26,324 shares of the company’s stock, valued at $4,342,143.80. The trade was a 5.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,887 shares of company stock valued at $27,996,356. Company insiders own 11.55% of the company’s stock.

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.