Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 22,713 shares of the information services provider’s stock after buying an additional 413 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Alphabet were worth $3,512,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GOOGL. Anderson Financial Strategies LLC bought a new stake in Alphabet in the fourth quarter valued at $49,000. Navigoe LLC bought a new stake in Alphabet in the 4th quarter valued at about $51,000. Prudent Man Investment Management Inc. bought a new stake in Alphabet in the 4th quarter valued at about $53,000. Campbell Capital Management Inc. bought a new stake in Alphabet in the 4th quarter valued at about $57,000. Finally, Marshall Investment Management LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $59,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.2%

Shares of Alphabet stock opened at $179.08 on Friday. The stock has a 50-day moving average price of $168.70 and a 200 day moving average price of $173.87. The company has a market cap of $2.17 trillion, a P/E ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Thursday, May 8th. Citizens Jmp raised Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 target price on the stock in a research note on Friday, June 27th. Jefferies Financial Group cut their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. JMP Securities upgraded shares of Alphabet from a “market perform” rating to a “market outperform” rating and set a $220.00 price objective on the stock in a research note on Friday, June 27th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $189.00 price objective on shares of Alphabet in a research note on Wednesday, May 21st. Ten analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.95.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,643 shares of company stock valued at $36,330,928. 11.64% of the stock is currently owned by corporate insiders.

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.