Canandaigua National Trust Co of Florida Buys 2,600 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Canandaigua National Trust Co of Florida raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 29.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,571 shares of the information services provider’s stock after purchasing an additional 2,600 shares during the period. Alphabet accounts for 1.7% of Canandaigua National Trust Co of Florida’s investment portfolio, making the stock its 13th largest holding. Canandaigua National Trust Co of Florida’s holdings in Alphabet were worth $2,190,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Denver PWM LLC increased its holdings in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares during the last quarter. First PREMIER Bank increased its stake in shares of Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares during the last quarter. Cutler Investment Counsel LLC raised its holdings in shares of Alphabet by 1.7% in the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock valued at $607,000 after purchasing an additional 61 shares during the period. MKT Advisors LLC lifted its stake in Alphabet by 0.8% in the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after purchasing an additional 62 shares during the last quarter. Finally, Mendota Financial Group LLC grew its holdings in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after purchasing an additional 64 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,406,343.27. This represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,887 shares of company stock valued at $27,996,356 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL traded up $5.08 during trading on Monday, hitting $196.87. 28,339,390 shares of the company traded hands, compared to its average volume of 19,960,061. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42. 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 stock’s fifty day moving average is $180.24 and its 200 day moving average is $172.46. The firm has a market cap of $2.41 trillion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98.

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

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GOOGL. Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday. Sanford C. Bernstein raised their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Evercore ISI increased their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Bank of America reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.82.

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.