Bank of Hawaii Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Bank of Hawaii raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,741.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,015 shares of the information services provider’s stock after purchasing an additional 68,104 shares during the quarter. Alphabet accounts for 0.5% of Bank of Hawaii’s portfolio, making the stock its 27th largest position. Bank of Hawaii’s holdings in Alphabet were worth $6,889,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. DC Investments Management LLC purchased a new position in Alphabet during the first quarter worth approximately $114,000. Bridgefront Capital LLC purchased a new position in Alphabet during the first quarter worth approximately $225,000. Worth Asset Management LLC purchased a new position in Alphabet during the first quarter worth approximately $206,000. Eudaimonia Advisors LLC boosted its position in Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC purchased a new position in Alphabet during the first quarter worth approximately $281,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. MKM Partners increased their target price on Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. New Street Research assumed coverage on Alphabet in a report on Wednesday, January 4th. They set a “buy” rating and a $118.00 target price for the company. Loop Capital increased their target price on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Barclays increased their target price on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $130.00 price target on shares of Alphabet in a report on Friday, February 10th. Five equities research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $132.32.

Alphabet Stock Performance

Shares of GOOGL stock opened at $90.36 on Thursday. The stock has a market capitalization of $1.16 trillion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79. The stock’s 50-day moving average price is $93.48 and its 200 day moving average price is $97.95. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter last year, the firm earned $1.53 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 340 shares of Alphabet stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director Ann Mather sold 340 shares of Alphabet stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,745 shares of company stock valued at $3,424,078. 11.44% of the stock is owned by corporate insiders.

Alphabet Profile

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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.