Canandaigua National Trust Co of Florida Sells 1,888 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Canandaigua National Trust Co of Florida lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 16.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,683 shares of the information services provider’s stock after selling 1,888 shares during the period. Alphabet accounts for 1.3% of Canandaigua National Trust Co of Florida’s investment portfolio, making the stock its 15th biggest position. Canandaigua National Trust Co of Florida’s holdings in Alphabet were worth $1,497,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOGL. Rockbridge Capital Management LLC bought a new stake in shares of Alphabet during the 4th quarter valued at about $3,119,000. Optivise Advisory Services LLC boosted its stake in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after purchasing an additional 403 shares in the last quarter. Community Bank N.A. boosted its stake in shares of Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after purchasing an additional 2,790 shares in the last quarter. Falcon Wealth Planning boosted its stake in shares of Alphabet by 15.7% during the 1st quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider’s stock valued at $1,531,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Premier Fund Managers Ltd boosted its stake in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock valued at $11,816,000 after purchasing an additional 14,262 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director directly owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,643 shares of company stock valued at $36,330,928. Insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOGL. Mizuho lowered their price target on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Citigroup reissued a “buy” rating and set a $203.00 price target (up from $200.00) on shares of Alphabet in a research report on Tuesday, June 24th. BNP Paribas Exane reissued a “neutral” rating and set a $172.00 price target on shares of Alphabet in a research report on Friday, June 27th. Roth Mkm reissued a “buy” rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.95.

Alphabet Stock Up 0.2%

Shares of Alphabet stock opened at $179.08 on Friday. The company has a market cap of $2.17 trillion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. The company’s 50 day moving average is $168.70 and its 200 day moving average is $173.87. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

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

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio is currently 9.36%.

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.