Today: Canandaigua National Bank & Trust Co. Sold shares of Alphabet Inc. (GOOG)

Today: Canandaigua National Bank & Trust Co. Sold shares of Alphabet Inc. (GOOG)

Canandaigua National Bank & Trust Co. cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 2,097 shares of the company’s stock after selling 202 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Alphabet were worth $1,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of Montreal Can purchased a new position in shares of Alphabet during the second quarter worth about $927,982,000. Jana Partners LLC purchased a new position in shares of Alphabet during the first quarter worth about $472,266,000. Bessemer Group Inc. purchased a new position in shares of Alphabet during the first quarter worth about $402,406,000. Pennant Capital Management LLC purchased a new position in shares of Alphabet during the first quarter worth about $145,638,000. Finally, Svenska Handelsbanken AB publ raised its position in shares of Alphabet by 11,203.0% in the second quarter. Svenska Handelsbanken AB publ now owns 192,603 shares of the company’s stock worth $133,301,000 after buying an additional 190,899 shares during the period. Institutional investors own 34.39% of the company’s stock.

Alphabet Inc. (NASDAQ:GOOG) traded up 0.04% on Friday, hitting $778.53. 852,487 shares of the stock traded hands. Alphabet Inc. has a 12-month low of $641.73 and a 12-month high of $792.28. The company’s 50 day moving average price is $774.66 and its 200-day moving average price is $741.88. The stock has a market capitalization of $535.06 billion, a P/E ratio of 30.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.03 by $0.39. The business had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.99 EPS. Analysts predict that Alphabet Inc. will post $34.14 EPS for the current year.

GOOG has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 29th. RBC Capital Markets restated an “outperform” rating and set a $1,025.00 target price (up from $1,000.00) on shares of Alphabet in a research report on Friday, September 30th. Deutsche Bank AG restated a “buy” rating and set a $1,050.00 target price on shares of Alphabet in a research report on Wednesday. SunTrust Banks Inc. restated a “buy” rating and set a $900.00 target price (up from $850.00) on shares of Alphabet in a research report on Sunday, July 31st. Finally, Vetr lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $770.61 target price on the stock. in a research report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and an average price target of $926.55.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $739.21, for a total transaction of $2,956,840.00. Following the transaction, the chief executive officer now directly owns 3,297 shares in the company, valued at approximately $2,437,175.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lawrence Page sold 33,332 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $748.02, for a total transaction of $24,933,002.64. Following the transaction, the chief executive officer now owns 30,666 shares in the company, valued at $22,938,781.32. The disclosure for this sale can be found here. Corporate insiders own 13.92% of the company’s stock.

About Alphabet

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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