Bank of Hawaii lowered its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,428 shares of the information services provider’s stock after selling 829 shares during the quarter. Bank of Hawaii’s holdings in Alphabet were worth $5,007,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Totem Point Management LLC lifted its stake in Alphabet by 22.0% during the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after acquiring an additional 571 shares in the last quarter. Somerville Kurt F lifted its stake in Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares in the last quarter. BCK Partners Inc. bought a new position in Alphabet during the 1st quarter valued at $2,564,000. Hall Capital Management Co. Inc. lifted its stake in Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after acquiring an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. lifted its stake in Alphabet by 6.8% during the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.
Insiders Place Their Bets
In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. Insiders sold 112,192 shares of company stock valued at $11,373,417 in the last ninety days. Insiders own 12.99% of the company’s stock.
Alphabet Trading Up 2.8 %
Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on GOOG. Raymond James raised their price objective on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Sanford C. Bernstein set a $130.00 target price on Alphabet in a research note on Monday, February 6th. Credit Suisse Group set a $136.00 price objective on Alphabet in a research note on Friday, February 3rd. Jefferies Financial Group set a $125.00 price objective on Alphabet in a research note on Friday, February 3rd. Finally, Cowen reduced their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $135.24.
Alphabet Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
See Also
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