Bank of Hawaii Sells 1,207 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bank of Hawaii decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,959 shares of the information services provider’s stock after selling 1,207 shares during the period. Bank of Hawaii’s holdings in Alphabet were worth $9,857,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Daiwa Securities Group Inc. grew its stake in shares of Alphabet by 7.3% in the third quarter. Daiwa Securities Group Inc. now owns 882,787 shares of the information services provider’s stock valued at $147,593,000 after buying an additional 59,789 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in Alphabet by 2.1% in the third quarter. Summit Trail Advisors LLC now owns 201,427 shares of the information services provider’s stock valued at $33,677,000 after acquiring an additional 4,170 shares during the last quarter. Capital Investment Counsel LLC lifted its stake in Alphabet by 1.8% in the third quarter. Capital Investment Counsel LLC now owns 4,073 shares of the information services provider’s stock valued at $681,000 after acquiring an additional 73 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of Alphabet by 2.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 70,572 shares of the information services provider’s stock valued at $11,799,000 after acquiring an additional 1,580 shares during the period. Finally, Centaurus Financial Inc. increased its stake in shares of Alphabet by 4.9% during the 3rd quarter. Centaurus Financial Inc. now owns 72,625 shares of the information services provider’s stock worth $12,142,000 after purchasing an additional 3,366 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GOOG shares. Scotiabank initiated coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Citigroup upped their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Down 1.6 %

NASDAQ GOOG opened at $166.57 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.16 and a beta of 1.04. The company has a 50 day moving average of $169.10 and a 200-day moving average of $171.87. Alphabet Inc. has a 1-year low of $129.40 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.55 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is 10.61%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,673,866 over the last quarter. 12.99% of the stock is owned by company insiders.

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.