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

Canandaigua National Trust Co of Florida boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 80.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,579 shares of the information services provider’s stock after acquiring an additional 4,703 shares during the quarter. Alphabet comprises 1.6% of Canandaigua National Trust Co of Florida’s investment portfolio, making the stock its 15th biggest holding. Canandaigua National Trust Co of Florida’s holdings in Alphabet were worth $2,015,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOG. Lowery Thomas LLC purchased a new stake in Alphabet in the 2nd quarter valued at approximately $209,000. Mayflower Financial Advisors LLC raised its position in Alphabet by 7.7% in the second quarter. Mayflower Financial Advisors LLC now owns 29,149 shares of the information services provider’s stock worth $5,347,000 after acquiring an additional 2,076 shares in the last quarter. Impact Partnership Wealth LLC lifted its holdings in Alphabet by 50.7% in the second quarter. Impact Partnership Wealth LLC now owns 1,704 shares of the information services provider’s stock valued at $313,000 after acquiring an additional 573 shares during the period. Foster & Motley Inc. boosted its position in shares of Alphabet by 0.9% during the 2nd quarter. Foster & Motley Inc. now owns 101,807 shares of the information services provider’s stock worth $18,674,000 after purchasing an additional 892 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. grew its stake in shares of Alphabet by 1.1% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 22,315 shares of the information services provider’s stock worth $4,093,000 after purchasing an additional 251 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 2.5 %

Alphabet stock traded up $4.83 during midday trading on Monday, reaching $197.96. The stock had a trading volume of 17,565,023 shares, compared to its average volume of 14,371,597. The stock’s 50-day simple moving average is $181.77 and its 200 day simple moving average is $173.97. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.42 trillion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

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, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the business earned $1.55 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet’s payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GOOG shares. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Canaccord Genuity Group raised their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 155,887 shares of company stock valued at $27,996,356. Company insiders own 12.99% of the company’s stock.

About Alphabet

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.