Norway Savings Bank Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Norway Savings Bank lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 999 shares of the information services provider’s stock after purchasing an additional 41 shares during the period. Alphabet accounts for about 1.3% of Norway Savings Bank’s investment portfolio, making the stock its 20th biggest holding. Norway Savings Bank’s holdings in Alphabet were worth $2,671,000 as of its most recent filing with the Securities and Exchange Commission.

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

GOOGL opened at $2,922.40 on Thursday. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.94 trillion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.07 and a beta of 1.04. The company’s 50 day moving average is $2,850.18 and its 200 day moving average is $2,668.40. Alphabet Inc. has a 12-month low of $1,694.00 and a 12-month high of $3,019.33.

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

Several brokerages recently issued reports on GOOGL. Wells Fargo & Company reiterated an “overweight” rating and issued a $3,400.00 price target (up from $3,100.00) on shares of Alphabet in a research note on Wednesday, October 27th. Oppenheimer raised their price objective on shares of Alphabet from $3,000.00 to $3,500.00 and gave the company an “outperform” rating in a research note on Wednesday, October 27th. BMO Capital Markets raised their price objective on shares of Alphabet from $3,000.00 to $3,200.00 and gave the company an “outperform” rating in a research note on Wednesday, October 27th. Monness Crespi & Hardt raised their price objective on shares of Alphabet from $3,500.00 to $3,660.00 and gave the company a “buy” rating in a research note on Wednesday, October 27th. Finally, Royal Bank of Canada started coverage on shares of Alphabet in a research note on Thursday, September 30th. They set an “outperform” rating and a $3,400.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirty-seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $3,156.15.

Alphabet Company Profile

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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