Canandaigua National Trust Co of Florida Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Canandaigua National Trust Co of Florida decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,683 shares of the information services provider's stock after selling 1,888 shares during the quarter. Alphabet comprises approximately 1.3% of Canandaigua National Trust Co of Florida's portfolio, making the stock its 15th biggest position. Canandaigua National Trust Co of Florida's holdings in Alphabet were worth $1,497,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Wealth Group Ltd. increased its holdings in shares of Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after acquiring an additional 78 shares in the last quarter. Eagle Capital Management LLC increased its stake in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares in the last quarter. Brighton Jones LLC increased its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Alphabet in the 4th quarter worth $154,716,000. Finally, Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded down $2.61 during midday trading on Tuesday, reaching $174.18. 20,607,437 shares of the stock traded hands, compared to its average volume of 31,560,958. The company's 50 day moving average is $169.03 and its 200 day moving average is $173.67. The stock has a market capitalization of $2.11 trillion, a PE ratio of 19.42, a P/E/G ratio of 1.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given 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 0.48%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analysts Set New Price Targets

A number of analysts have commented on GOOGL shares. Rosenblatt Securities reissued a "neutral" rating and issued a $189.00 target price on shares of Alphabet in a report on Wednesday, May 21st. Bank of America lifted their price objective on Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. KeyCorp lifted their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $200.00 target price (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $200.00.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the transaction, the director owned 255,400 shares of the company's stock, valued at approximately $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock worth $36,330,928 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

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.