First Hawaiian Bank Has $14.89 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

First Hawaiian Bank trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,200 shares of the information services provider’s stock after selling 17,401 shares during the quarter. Alphabet accounts for 0.5% of First Hawaiian Bank’s portfolio, making the stock its 28th largest holding. First Hawaiian Bank’s holdings in Alphabet were worth $14,894,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GOOG. Mark Sheptoff Financial Planning LLC increased its position in Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after acquiring an additional 60 shares during the last quarter. Strait & Sound Wealth Management LLC boosted its position in Alphabet by 2.2% during the first quarter. Strait & Sound Wealth Management LLC now owns 2,898 shares of the information services provider’s stock valued at $466,000 after purchasing an additional 61 shares in the last quarter. Woodward Diversified Capital LLC grew its position in shares of Alphabet by 0.7% in the 1st quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock worth $1,311,000 after buying an additional 62 shares during the last quarter. Intergy Private Wealth LLC grew its holdings in Alphabet by 1.9% in the first quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock worth $517,000 after purchasing an additional 63 shares during the last quarter. Finally, Smith Anglin Financial LLC increased its position in Alphabet by 2.0% during the 1st quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock valued at $491,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,308 shares of company stock worth $21,933,775. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock traded down $4.05 during midday trading on Friday, hitting $168.40. The company had a trading volume of 18,907,773 shares, compared to its average volume of 16,999,430. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company’s 50 day simple moving average is $179.96 and its 200 day simple moving average is $163.01. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.83, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 3.07%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $182.86.

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.