Norway Savings Bank Buys 1,682 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Norway Savings Bank raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,840 shares of the information services provider’s stock after buying an additional 1,682 shares during the quarter. Alphabet accounts for 2.0% of Norway Savings Bank’s portfolio, making the stock its 10th largest position. Norway Savings Bank’s holdings in Alphabet were worth $4,806,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. RWQ Financial Management Services Inc. lifted its position in Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the period. Picton Mahoney Asset Management lifted its stake in Alphabet by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after purchasing an additional 76,410 shares during the period. Robbins Farley boosted its holdings in Alphabet by 0.8% during the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares in the last quarter. Nebula Research & Development LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $787,000. Finally, Quantum Financial Advisors LLC raised its holdings in shares of Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after buying an additional 564 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GOOGL. Roth Mkm lifted their price target on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a report on Friday, April 26th. Truist Financial boosted their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Robert W. Baird boosted their target price on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. KeyCorp increased their price objective on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.66.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The disclosure for this sale can be found here. Insiders sold a total of 142,344 shares of company stock valued at $23,920,676 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.5 %

Shares of NASDAQ GOOGL opened at $182.99 on Tuesday. The business’s fifty day moving average price is $172.85 and its 200-day moving average price is $154.44. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a one year low of $115.35 and a one year high of $186.05. The stock has a market capitalization of $2.26 trillion, a PE ratio of 28.07, a P/E/G ratio of 1.37 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the business posted $1.17 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.