Central Pacific Bank Trust Division Acquires 2,442 Shares of Alphabet Inc. $GOOGL

Central Pacific Bank Trust Division raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 26,961 shares of the information services provider’s stock after purchasing an additional 2,442 shares during the period. Alphabet accounts for about 0.8% of Central Pacific Bank Trust Division’s portfolio, making the stock its 20th largest position. Central Pacific Bank Trust Division’s holdings in Alphabet were worth $6,554,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GOOGL. Financial Gravity Companies Inc. bought a new position in Alphabet in the second quarter worth approximately $31,000. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the period. Vermillion & White Wealth Management Group LLC raised its position in shares of Alphabet by 37.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after acquiring an additional 89 shares in the last quarter. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 77.6% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after purchasing an additional 152 shares during the last quarter. Finally, S&T Bank PA boosted its position in Alphabet by 40.2% during the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the sale, the director owned 4,516 shares in the company, valued at $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total transaction of $302,418.00. Following the completion of the sale, the chief accounting officer directly owned 11,740 shares in the company, valued at $3,721,580. This trade represents a 7.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 190,250 shares of company stock worth $52,387,348. 11.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. China Renaissance boosted their target price on shares of Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Roth Capital boosted their price objective on shares of Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. BNP Paribas Exane started coverage on shares of Alphabet in a research note on Monday, November 24th. They issued an “outperform” rating and a $355.00 target price for the company. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, Guggenheim reiterated a “buy” rating and set a $375.00 price objective (up previously from $330.00) on shares of Alphabet in a report on Monday, December 1st. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $315.18.

Alphabet Trading Down 0.5%

NASDAQ:GOOGL opened at $306.57 on Wednesday. The company has a market capitalization of $3.70 trillion, a P/E ratio of 30.23, a PEG ratio of 1.78 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The firm has a fifty day simple moving average of $285.51 and a 200-day simple moving average of $231.90.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Alphabet Company 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.