Canandaigua National Corp Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Canandaigua National Corp reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 11.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,441 shares of the information services provider’s stock after selling 561 shares during the period. Alphabet accounts for 1.6% of Canandaigua National Corp’s holdings, making the stock its 8th biggest holding. Canandaigua National Corp’s holdings in Alphabet were worth $9,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Trust Asset Management LLC lifted its position in shares of Alphabet by 79.4% in the 3rd quarter. Trust Asset Management LLC now owns 3,024 shares of the information services provider’s stock worth $4,444,000 after purchasing an additional 1,338 shares during the period. Ameraudi Asset Management Inc. purchased a new stake in shares of Alphabet in the 3rd quarter worth approximately $207,000. Walkner Condon Financial Advisors LLC purchased a new stake in shares of Alphabet in the 3rd quarter worth approximately $848,000. Advisors Asset Management Inc. lifted its position in shares of Alphabet by 7.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 522 shares of the information services provider’s stock worth $767,000 after purchasing an additional 34 shares during the period. Finally, ExodusPoint Capital Management LP lifted its position in shares of Alphabet by 66.8% in the 3rd quarter. ExodusPoint Capital Management LP now owns 1,271 shares of the information services provider’s stock worth $1,868,000 after purchasing an additional 509 shares during the period. Institutional investors and hedge funds own 31.94% of the company’s stock.

GOOG has been the subject of several research reports. Wolfe Research initiated coverage on shares of Alphabet in a research report on Wednesday, March 31st. They issued an “outperform” rating and a $2,450.00 price target for the company. Jefferies Financial Group upped their price target on shares of Alphabet from $2,150.00 to $2,400.00 in a research report on Wednesday, February 3rd. Barclays reissued a “buy” rating on shares of Alphabet in a research report on Thursday, February 4th. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $2,493.00 target price for the company in a research report on Wednesday. Finally, Canaccord Genuity increased their target price on shares of Alphabet from $2,250.00 to $2,400.00 and gave the company a “buy” rating in a research report on Wednesday, February 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $2,244.11.

Shares of NASDAQ:GOOG traded up $18.15 during midday trading on Thursday, reaching $2,267.83. The company’s stock had a trading volume of 25,270 shares, compared to its average volume of 1,599,775. The firm has a market capitalization of $1.53 trillion, a PE ratio of 43.84, a P/E/G ratio of 1.66 and a beta of 0.98. Alphabet Inc. has a twelve month low of $1,187.60 and a twelve month high of $2,255.00. The stock has a fifty day moving average of $2,078.40 and a 200 day moving average of $1,819.99. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, February 1st. The information services provider reported $22.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $15.91 by $6.39. The firm had revenue of $56.90 billion for the quarter, compared to analyst estimates of $52.86 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $15.35 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 52.19 earnings per share for the current fiscal year.

In related news, SVP John Kent Walker sold 2,570 shares of the firm’s stock in a transaction on Monday, March 29th. The shares were sold at an average price of $2,037.34, for a total transaction of $5,235,963.80. Following the sale, the senior vice president now owns 26,707 shares in the company, valued at $54,411,239.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $2,068.50, for a total transaction of $6,205,500.00. Following the sale, the chief executive officer now owns 6,757 shares in the company, valued at approximately $13,976,854.50. The disclosure for this sale can be found here. Insiders sold 14,034 shares of company stock worth $28,870,417 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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