Canandaigua National Bank & Trust Co. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,401 shares of the information services provider’s stock, valued at approximately $2,946,000.
Several other institutional investors have also recently bought and sold shares of the business. VitalStone Financial LLC purchased a new stake in Alphabet in the 4th quarter valued at $25,000. Live Oak Investment Partners purchased a new stake in shares of Alphabet in the fourth quarter valued at about $26,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Alphabet during the fourth quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. purchased a new position in Alphabet during the fourth quarter worth about $34,000. Finally, TFO TDC LLC boosted its stake in shares of Alphabet by 952.6% in the 3rd quarter. TFO TDC LLC now owns 400 shares of the information services provider’s stock worth $38,000 after buying an additional 362 shares during the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $123.15 on Friday. The company’s fifty day moving average price is $116.41 and its 200-day moving average price is $102.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The firm has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.57 and a beta of 1.09. Alphabet Inc. has a one year low of $83.34 and a one year high of $129.04.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. During the same period in the previous year, the business earned $1.23 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have weighed in on GOOGL shares. Stifel Nicolaus started coverage on Alphabet in a research report on Monday, March 20th. They issued a “buy” rating and a $130.00 price objective on the stock. StockNews.com began coverage on shares of Alphabet in a report on Thursday, May 18th. They set a “buy” rating for the company. Oppenheimer boosted their target price on shares of Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Wells Fargo & Company began coverage on shares of Alphabet in a research note on Wednesday, June 7th. They set an “equal weight” rating and a $117.00 price target for the company. Finally, Piper Sandler upped their price objective on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $129.67.
Insider Activity
In related news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the sale, the chief accounting officer now owns 25,937 shares in the company, valued at approximately $2,788,486.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total value of $2,953,971.04. Following the transaction, the insider now owns 24,277 shares in the company, valued at $2,472,369.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 854,930 shares of company stock worth $29,996,488. 0.88% of the stock is currently owned by insiders.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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