Canandaigua National Bank & Trust Co. cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,300 shares of the information services provider’s stock after selling 1,466 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Alphabet were worth $4,221,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in GOOGL. International Assets Investment Management LLC increased its holdings in Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after buying an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC grew its holdings in Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after acquiring an additional 4,662,809 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Finally, Wulff Hansen & CO. raised its holdings in Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total value of $473,929.82. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at $4,406,343.27. This trade represents a 9.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the sale, the director now owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. The trade was a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,887 shares of company stock valued at $27,996,356. Insiders own 11.55% of the company’s stock.
Alphabet Stock Up 2.6 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the firm earned $1.55 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the stock. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Wolfe Research increased their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Pivotal Research increased their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Roth Mkm raised their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $206.82.
View Our Latest Research Report on Alphabet
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.
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