Canandaigua National Trust Co of Florida Sells 3,205 Shares of Alphabet Inc. (NASDAQ:GOOG)

Canandaigua National Trust Co of Florida reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,374 shares of the information services provider's stock after selling 3,205 shares during the period. Alphabet makes up approximately 1.0% of Canandaigua National Trust Co of Florida's holdings, making the stock its 19th largest holding. Canandaigua National Trust Co of Florida's holdings in Alphabet were worth $1,152,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GOOG. Principia Wealth Advisory LLC lifted its holdings in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. LSV Asset Management bought a new stake in Alphabet during the fourth quarter worth about $27,000. Goodman Advisory Group LLC bought a new stake in Alphabet during the first quarter worth about $32,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $38,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $39,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. KeyCorp decreased their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Westpark Capital restated a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Scotiabank lowered their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Finally, Susquehanna reiterated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and six have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $206.38.

Alphabet Trading Up 0.3%

Shares of GOOG traded up $0.46 on Friday, reaching $180.22. 13,287,389 shares of the company's stock were exchanged, compared to its average volume of 21,182,530. The business has a 50 day moving average price of $169.65 and a two-hundred day moving average price of $175.71. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. 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 (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. 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 dividend yield of 0.47%. Alphabet's payout ratio is 9.36%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The stock was 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 of the company's stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock valued at $36,330,928 over the last three months. Company insiders own 12.99% of the company's stock.

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.