Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 80.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,579 shares of the information services provider’s stock after buying an additional 4,703 shares during the quarter. Alphabet comprises about 1.6% of Canandaigua National Trust Co of Florida’s investment portfolio, making the stock its 15th largest position. Canandaigua National Trust Co of Florida’s holdings in Alphabet were worth $2,015,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Weiss Asset Management LP acquired a new position in Alphabet in the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet during the 3rd quarter worth $33,000. Abich Financial Wealth Management LLC increased its position in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the period. HWG Holdings LP acquired a new position in shares of Alphabet during the second quarter valued at $40,000. Finally, Sanctuary Wealth Management L.L.C. grew its position in shares of 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 acquiring an additional 117 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 2.5 %

Shares of GOOG traded up $4.83 during trading hours on Monday, reaching $197.96. The company’s stock had a trading volume of 17,565,023 shares, compared to its average volume of 14,371,597. 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 firm has a market cap of $2.42 trillion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a 50 day moving average of $181.77 and a two-hundred day moving average of $173.97. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $202.88.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the business posted $1.55 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, research analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total transaction of $473,929.82. Following the completion of the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,406,343.27. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 155,887 shares of company stock worth $27,996,356 in the last three months. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. UBS Group increased their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Scotiabank initiated coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.56.

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.