Central Pacific Bank Trust Division Sells 880 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Central Pacific Bank Trust Division cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,474 shares of the information services provider’s stock after selling 880 shares during the quarter. Alphabet accounts for about 1.0% of Central Pacific Bank Trust Division’s holdings, making the stock its 12th biggest holding. Central Pacific Bank Trust Division’s holdings in Alphabet were worth $7,472,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. LMR Partners LLP acquired a new stake in shares of Alphabet during the third quarter worth $32,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at about $36,000. Denver PWM LLC bought a new stake in Alphabet in the second quarter worth approximately $41,000. Quarry LP acquired a new position in Alphabet in the second quarter valued at approximately $53,000. Finally, Summit Securities Group LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $55,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 1.5 %

Shares of GOOGL traded up $2.80 during midday trading on Friday, hitting $192.23. The stock had a trading volume of 10,454,976 shares, compared to its average volume of 15,314,625. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock’s 50 day moving average is $179.71 and its 200 day moving average is $172.40. The firm has a market cap of $2.35 trillion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the business posted $1.55 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. KeyCorp boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Loop Capital raised their price target on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Evercore ISI boosted their target price on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $206.44.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the transaction, the director now directly owns 26,324 shares in the company, valued at approximately $4,342,143.80. This represents a 5.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,519 shares of company stock worth $27,734,316 over the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet 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.