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

Canandaigua National Bank & Trust Co. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,146 shares of the information services provider’s stock after selling 1,209 shares during the quarter. Alphabet makes up approximately 1.1% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 18th biggest position. Canandaigua National Bank & Trust Co.’s holdings in Alphabet were worth $10,883,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GOOG. Weiss Asset Management LP acquired a new position in Alphabet during the third quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the 3rd quarter valued at about $33,000. Abich Financial Wealth Management LLC raised its stake in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. HWG Holdings LP acquired a new stake in Alphabet in the 2nd quarter worth approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. boosted its position in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOG has been the subject of a number of analyst reports. Scotiabank initiated coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective for the company. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Six investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

Shares of NASDAQ GOOG traded up $4.83 during midday trading on Monday, reaching $197.96. 17,565,023 shares of the company traded hands, compared to its average volume of 14,371,597. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $202.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock’s 50-day simple moving average is $181.77 and its 200-day simple moving average is $173.97. The firm has a market cap of $2.42 trillion, a PE ratio of 26.25, a PEG ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last released 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. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In related news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,887 shares of company stock valued at $27,996,356. 12.99% of the stock is currently owned by corporate insiders.

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.