Norway Savings Bank Buys 56 Shares of Alphabet Inc (NASDAQ:GOOGL)

Norway Savings Bank increased its stake in Alphabet Inc (NASDAQ:GOOGL) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 716 shares of the information services provider’s stock after acquiring an additional 56 shares during the period. Norway Savings Bank’s holdings in Alphabet were worth $1,050,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Virtus Alternative Investment Advisers Inc. bought a new stake in Alphabet during the 2nd quarter valued at $45,000. Cedar Mountain Advisors LLC increased its position in shares of Alphabet by 26.9% in the second quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 7 shares during the period. Watson Rebecca purchased a new position in shares of Alphabet in the second quarter valued at about $60,000. Virtus ETF Advisers LLC bought a new position in shares of Alphabet during the second quarter valued at about $84,000. Finally, CVA Family Office LLC purchased a new stake in shares of Alphabet during the first quarter worth about $70,000. Institutional investors own 33.78% of the company’s stock.

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Alphabet from $1,760.00 to $1,800.00 and gave the company an “overweight” rating in a research report on Thursday, September 24th. Robert W. Baird upped their target price on Alphabet from $1,500.00 to $1,650.00 in a report on Thursday, June 25th. Moffett Nathanson lifted their price target on shares of Alphabet from $1,650.00 to $1,850.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Jefferies Financial Group upgraded shares of Alphabet to a “buy” rating in a report on Monday, July 13th. Finally, Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,643.00 target price for the company. in a research report on Tuesday, October 13th. Four investment analysts have rated the stock with a hold rating and forty-two have assigned a buy rating to the stock. Alphabet presently has an average rating of “Buy” and a consensus price target of $1,679.91.

Shares of NASDAQ:GOOGL opened at $1,567.70 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. The firm has a market cap of $1,066.29 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10. The business has a 50-day simple moving average of $1,519.73 and a two-hundred day simple moving average of $1,433.08. Alphabet Inc has a fifty-two week low of $1,008.87 and a fifty-two week high of $1,726.10.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating the consensus estimate of $8.43 by $1.70. The firm had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. As a group, research analysts predict that Alphabet Inc will post 44.87 earnings per share for the current year.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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