Complexity of finding factors of a number
The exact running time depends on your computation model. When analyzing arithmetic with large numbers, we usually count either bit operations, or arithmetic operations on words of size $O(\log n)$ (where $n$ is the input size, which in your case is the logarithm of the number you want to factor). This means that in a constant amount of time the first model only allows you to perform an operation involving a constant number of bits; and the second model allows you to perform a constant number of arithmetic operations (addition, subtraction, multiplication, division) on registers of length $C\log n$, where $C$ is some constant which you can use but must depend only on the algorithm.

In both models, the division operation itself won't take $O(1)$; indeed, the CPU cannot divide a large number $N$ by a prime $p$ in $O(1)$. So the running time is really $O(\sqrt{N}(\log N)^{O(1)})$ (where $N$ is the number you're trying to factor). We usually don't care about these logarithmic factors, so we use the notation $\tilde{O}(\sqrt{N})$, and we explain that it hides logarithmic factors.