Central Pacific Bank Trust Division Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Central Pacific Bank Trust Division decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 28.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 25,054 shares of the information services provider’s stock after selling 9,914 shares during the quarter. Alphabet makes up 0.6% of Central Pacific Bank Trust Division’s holdings, 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 quarter.

Several other large investors have also recently made changes to their positions in the company. Heritage Family Offices LLP purchased a new position in Alphabet in the second quarter valued at $227,000. Elevated Capital Advisors LLC increased its stake in Alphabet by 6.7% in the 2nd quarter. Elevated Capital Advisors LLC now owns 16,509 shares of the information services provider’s stock valued at $3,028,000 after buying an additional 1,039 shares during the period. FFT Wealth Management LLC boosted its holdings in shares of Alphabet by 1.0% in the second quarter. FFT Wealth Management LLC now owns 23,300 shares of the information services provider’s stock valued at $4,274,000 after acquiring an additional 239 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in Alphabet by 0.3% in the second quarter. Crestwood Advisors Group LLC now owns 370,359 shares of the information services provider’s stock valued at $67,933,000 after purchasing an additional 1,004 shares during the period. Finally, PrairieView Partners LLC lifted its holdings in shares of Alphabet by 40.9% in the 2nd quarter. PrairieView Partners LLC now owns 7,482 shares of the information services provider’s stock valued at $1,372,000 after buying an additional 2,171 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,519 shares of company stock worth $27,734,316. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Citigroup increased their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Barclays increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Price Performance

GOOG traded up $2.95 during trading on Friday, hitting $193.58. The company’s stock had a trading volume of 7,326,461 shares, compared to its average volume of 12,379,018. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $202.88. 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 firm’s 50 day moving average price is $181.25 and its two-hundred day moving average price is $173.90. The stock has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $1.55 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.41%. Alphabet’s dividend payout ratio is 10.61%.

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.