Canandaigua National Bank & Trust Co. Has $10.88 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Canandaigua National Bank & Trust Co. lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 57,146 shares of the information services provider’s stock after selling 1,209 shares during the period. Alphabet makes up about 1.1% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 18th biggest holding. Canandaigua National Bank & Trust Co.’s holdings in Alphabet were worth $10,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. M&G PLC bought a new stake in Alphabet in the third quarter valued at approximately $2,240,000. Coldstream Capital Management Inc. grew its stake in Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after acquiring an additional 14,738 shares during the period. Metis Global Partners LLC increased its holdings in shares of Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares in the last quarter. Stevens Capital Management LP raised its position in shares of Alphabet by 172.9% during the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after purchasing an additional 57,810 shares during the period. Finally, Verdence Capital Advisors LLC lifted its holdings in shares of Alphabet by 10.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after purchasing an additional 5,892 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on 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 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 trade represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,887 shares of company stock worth $27,996,356. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research reports. Citigroup lifted their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Jefferies Financial Group increased their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Up 2.5 %

Shares of NASDAQ GOOG traded up $4.83 during trading on Monday, reaching $197.96. The company had a trading volume of 17,565,023 shares, compared to its average volume of 14,371,597. The stock has a market cap of $2.42 trillion, a P/E ratio of 26.25, a PEG ratio of 1.34 and a beta of 0.99. The company’s fifty day moving average price is $181.77 and its 200-day moving average price is $173.97. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $202.88.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.