First Hawaiian Bank Reduces Holdings in Alphabet Inc. (GOOGL)
First Hawaiian Bank lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 361 shares of the information services provider’s stock after selling 19 shares during the quarter. First Hawaiian Bank’s holdings in Alphabet were worth $336,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Franklin Parlapiano Turner & Welch LLC bought a new stake in Alphabet in the first quarter worth approximately $108,000. Delta Asset Management LLC TN boosted its holdings in shares of Alphabet by 1.5% during the 1st quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after buying an additional 2 shares during the period. Farmers National Bank boosted its holdings in shares of Alphabet by 2.7% during the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after buying an additional 4 shares during the period. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Alphabet by 58.3% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after buying an additional 56 shares during the period. Finally, Jacobi Capital Management LLC bought a new stake in shares of Alphabet during the 1st quarter worth $132,000. Hedge funds and other institutional investors own 33.85% of the company’s stock.
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Several research firms recently issued reports on GOOGL. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 price objective for the company in a report on Monday, June 5th. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Citigroup Inc. upped their price objective on shares of Alphabet from $1,135.00 to $1,180.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an “outperform” rating and set a $1,100.00 price objective (down from $1,150.00) on shares of Alphabet in a report on Tuesday, July 25th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $1,200.00 price objective on shares of Alphabet in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-one have issued a buy rating and two have assigned a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,054.01.
Shares of Alphabet Inc. (NASDAQ:GOOGL) traded down 0.31% during midday trading on Friday, hitting $944.62. 431,870 shares of the stock were exchanged. The firm has a market capitalization of $654.51 billion, a price-to-earnings ratio of 34.23 and a beta of 0.98. Alphabet Inc. has a 1-year low of $743.59 and a 1-year high of $1,008.61. The stock’s 50-day moving average price is $939.49 and its 200-day moving average price is $928.76. Alphabet also saw unusually large options trading on Wednesday. Traders acquired 20,437 call options on the stock. This represents an increase of approximately 108% compared to the average daily volume of 9,814 call options.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the consensus estimate of $8.25 by ($3.24). The firm had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same quarter in the previous year, the company posted $8.42 EPS. On average, analysts forecast that Alphabet Inc. will post $30.59 EPS for the current year.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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