Norway Savings Bank Has $2.67 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Norway Savings Bank boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 999 shares of the information services provider’s stock after purchasing an additional 41 shares during the period. 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 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Laurel Wealth Planning LLC bought a new position in Alphabet in the 2nd quarter valued at about $27,000. True Link Financial Advisors LLC bought a new position in Alphabet in the 2nd quarter valued at about $29,000. Financial Insights Inc. bought a new position in shares of Alphabet during the second quarter worth approximately $39,000. Harvest Group Wealth Management LLC bought a new position in shares of Alphabet during the second quarter worth approximately $66,000. Finally, Cowen Prime Advisors LLC bought a new position in shares of Alphabet during the second quarter worth approximately $98,000. Institutional investors and hedge funds own 34.30% of the company’s stock.

A number of research analysts recently issued reports on the stock. Argus lifted their price objective on shares of Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. 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. Needham & Company LLC lifted their price objective on shares of Alphabet from $2,700.00 to $3,200.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $2,875.00 to $3,250.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Finally, The Goldman Sachs Group cut their target price on shares of Alphabet from $3,350.00 to $3,183.00 and set a “buy” rating on the stock 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.

Alphabet stock opened at $2,922.40 on Thursday. Alphabet Inc. has a fifty-two week low of $1,694.00 and a fifty-two week high of $3,019.33. The stock has a market cap of $1.94 trillion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.07 and a beta of 1.04. The firm’s 50-day simple moving average is $2,850.18 and its 200 day simple moving average is $2,668.40. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.96 and a current ratio of 2.98.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, October 25th. The information services provider reported $27.99 earnings per share 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 previous year, the firm earned $16.40 EPS. As a group, analysts predict that Alphabet Inc. will post 107.86 EPS 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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