Norway Savings Bank Buys 41 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Norway Savings Bank raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 999 shares of the information services provider’s stock after acquiring an additional 41 shares during the quarter. Alphabet comprises 1.3% of Norway Savings Bank’s holdings, making the stock its 20th largest position. Norway Savings Bank’s holdings in Alphabet were worth $2,671,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Laurel Wealth Planning LLC bought a new position in shares of Alphabet during the second quarter worth approximately $27,000. True Link Financial Advisors LLC bought a new position in Alphabet in the second quarter valued at approximately $29,000. Financial Insights Inc. bought a new position in Alphabet in the second quarter valued at approximately $39,000. Harvest Group Wealth Management LLC bought a new position in Alphabet in the second quarter valued at approximately $66,000. Finally, Cowen Prime Advisors LLC bought a new position in Alphabet in the second quarter valued at approximately $98,000. 34.30% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on the stock. Raymond James lifted their price objective on shares of Alphabet from $3,200.00 to $3,400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 27th. Cowen lifted their price objective on shares of Alphabet from $3,300.00 to $3,360.00 and gave the company an “outperform” rating in a research note on Wednesday, October 27th. Evercore ISI raised their target price on shares of Alphabet from $3,160.00 to $3,500.00 and gave the company an “outperform” rating in a research report on Wednesday, October 27th. Credit Suisse Group raised their target price on shares of Alphabet from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, October 27th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $3,400.00 target price (up previously from $3,100.00) on shares of Alphabet in a research report on Wednesday, October 27th. Four analysts have rated the stock with a hold rating and thirty-seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $3,156.15.

NASDAQ:GOOGL opened at $2,922.40 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.98 and a quick ratio of 2.96. The firm has a 50-day moving average of $2,850.18 and a 200-day moving average of $2,668.40. The company has a market cap of $1.94 trillion, a PE ratio of 28.14, a PEG ratio of 1.07 and a beta of 1.04. Alphabet Inc. has a one year low of $1,694.00 and a one year high of $3,019.33.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, October 25th. The information services provider reported $27.99 EPS for the quarter, topping the consensus estimate of $23.13 by $4.86. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. During the same quarter in the prior year, the firm earned $16.40 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 107.86 earnings per share for the current fiscal year.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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