Canandaigua National Corp reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,046 shares of the information services provider’s stock after selling 181 shares during the period. Canandaigua National Corp’s holdings in Alphabet were worth $4,220,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Corundum Group Inc. increased its stake in shares of Alphabet by 3.0% in the fourth quarter. Corundum Group Inc. now owns 174 shares of the information services provider’s stock worth $305,000 after purchasing an additional 5 shares in the last quarter. JGP Wealth Management LLC boosted its position in shares of Alphabet by 2.0% during the fourth quarter. JGP Wealth Management LLC now owns 260 shares of the information services provider’s stock worth $534,000 after acquiring an additional 5 shares during the last quarter. Confluence Investment Management LLC boosted its position in shares of Alphabet by 2.4% during the first quarter. Confluence Investment Management LLC now owns 212 shares of the information services provider’s stock worth $437,000 after acquiring an additional 5 shares during the last quarter. Family Firm Inc. boosted its position in shares of Alphabet by 1.9% during the fourth quarter. Family Firm Inc. now owns 319 shares of the information services provider’s stock worth $551,000 after acquiring an additional 6 shares during the last quarter. Finally, Aries Wealth Management boosted its position in shares of Alphabet by 0.5% during the fourth quarter. Aries Wealth Management now owns 1,196 shares of the information services provider’s stock worth $2,150,000 after acquiring an additional 6 shares during the last quarter. 33.79% of the stock is owned by institutional investors and hedge funds.

GOOGL has been the subject of several analyst reports. Monness Crespi & Hardt raised their target price on shares of Alphabet from $2,000.00 to $2,500.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Mizuho raised their price target on shares of Alphabet from $2,100.00 to $2,350.00 and gave the company a “buy” rating in a report on Wednesday, February 3rd. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $1,870.00 to $2,050.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 16th. They noted that the move was a valuation call. Wedbush lifted their price objective on shares of Alphabet from $2,150.00 to $2,470.00 and gave the company an “outperform” rating in a research note on Wednesday, February 3rd. Finally, Cowen restated an “outperform” rating on shares of Alphabet in a research note on Wednesday, February 3rd. One research analyst has rated the stock with a hold rating and forty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $2,108.21.

Shares of Alphabet stock traded up $10.56 during trading on Thursday, hitting $2,249.59. 29,031 shares of the stock were exchanged, compared to its average volume of 1,826,505. Alphabet Inc. has a 1-year low of $1,182.33 and a 1-year high of $2,244.50. The stock has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 43.27, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99. The company has a fifty day moving average price of $2,066.46 and a 200-day moving average price of $1,812.59. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, February 1st. The information services provider reported $22.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $15.90 by $6.40. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The firm had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.09 billion. During the same quarter in the previous year, the firm posted $15.35 EPS. Equities research analysts forecast that Alphabet Inc. will post 52.19 EPS for the current fiscal year.

About Alphabet

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:GOOGL)

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