Canandaigua National Trust Co of Florida Has $1.50 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Canandaigua National Trust Co of Florida decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,683 shares of the information services provider's stock after selling 1,888 shares during the quarter. Alphabet comprises 1.3% of Canandaigua National Trust Co of Florida's holdings, making the stock its 15th largest position. Canandaigua National Trust Co of Florida's holdings in Alphabet were worth $1,497,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Addison Advisors LLC raised its position in shares of Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after buying an additional 53 shares during the last quarter. Burt Wealth Advisors raised its holdings in shares of Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after purchasing an additional 54 shares during the period. Perritt Capital Management Inc lifted its position in Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after buying an additional 58 shares in the last quarter. Nia Impact Advisors LLC lifted its stake in shares of Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares in the last quarter. Finally, Hanlon Investment Management Inc. boosted its holdings in Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock worth $673,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the transaction, the director directly owned 255,400 shares of the company's stock, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 215,643 shares of company stock valued at $36,330,928. 11.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. Roth Mkm reaffirmed a "buy" rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Oppenheimer boosted their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Rosenblatt Securities reiterated a "neutral" rating and issued a $189.00 price target on shares of Alphabet in a research report on Wednesday, May 21st. Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research note on Friday, June 27th. Finally, Westpark Capital reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.95.

Alphabet Trading Down 1.5%

GOOGL stock traded down $2.74 during trading on Monday, hitting $176.79. The company had a trading volume of 34,110,803 shares, compared to its average volume of 31,600,813. The firm has a 50-day moving average price of $168.70 and a 200-day moving average price of $173.77. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.15 trillion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.26 and a beta of 1.00. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period last year, the company earned $1.89 EPS. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current 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 $0.21 dividend. 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. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's payout ratio is currently 9.36%.

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.