Central Pacific Bank Trust Division Has $4.77 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Central Pacific Bank Trust Division lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 28.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,054 shares of the information services provider’s stock after selling 9,914 shares during the quarter. Alphabet accounts for about 0.6% of Central Pacific Bank Trust Division’s investment portfolio, making the stock its 28th biggest holding. Central Pacific Bank Trust Division’s holdings in Alphabet were worth $4,771,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. M&G PLC bought a new stake in shares of Alphabet during the third quarter worth $2,240,000. Coldstream Capital Management Inc. increased its stake in Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after buying an additional 14,738 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after buying an additional 4,292 shares during the last quarter. Stevens Capital Management LP boosted its stake in shares of Alphabet by 172.9% during the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after buying an additional 57,810 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in shares of Alphabet by 10.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after acquiring an additional 5,892 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.5 %

GOOG stock traded up $2.95 during trading on Friday, reaching $193.58. The stock had a trading volume of 7,326,461 shares, compared to its average volume of 12,379,018. Alphabet Inc. has a one year low of $131.55 and a one year high of $202.88. The company’s 50 day moving average is $181.25 and its two-hundred day moving average is $173.90. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s payout ratio is presently 10.61%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOG. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Oppenheimer upped their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. UBS Group upped their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $164.95, for a total value of $247,425.00. Following the transaction, the director now owns 26,324 shares in the company, valued at $4,342,143.80. This trade represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,519 shares of company stock valued at $27,734,316 in the last quarter. Insiders own 12.99% of the company’s stock.

About Alphabet

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.