Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Norway Savings Bank

Norway Savings Bank raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 26.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,549 shares of the information services provider’s stock after acquiring an additional 321 shares during the quarter. Norway Savings Bank’s holdings in Alphabet were worth $295,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Sunburst Financial Group LLC raised its holdings in Alphabet by 2.1% during the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after purchasing an additional 60 shares in the last quarter. Johnson Financial Group LLC raised its stake in Alphabet by 2.6% during the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock worth $395,000 after acquiring an additional 60 shares in the last quarter. Phillips Financial Management LLC lifted its position in Alphabet by 1.6% in the third quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock valued at $644,000 after acquiring an additional 61 shares during the last quarter. Goodman Advisory Group LLC boosted its stake in Alphabet by 2.3% in the third quarter. Goodman Advisory Group LLC now owns 2,674 shares of the information services provider’s stock valued at $447,000 after acquiring an additional 61 shares in the last quarter. Finally, Hutchinson Capital Management CA grew its holdings in shares of Alphabet by 1.9% during the second quarter. Hutchinson Capital Management CA now owns 3,492 shares of the information services provider’s stock worth $641,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG traded down $1.08 on Tuesday, hitting $196.88. 10,909,292 shares of the company were exchanged, compared to its average volume of 15,097,542. The business’s fifty day moving average is $182.36 and its 200 day moving average is $174.11. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $2.41 trillion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business posted $1.55 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Analyst Ratings Changes

GOOG has been the subject of a number of research analyst reports. Barclays upped their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup upped their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,406,343.27. This represents a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,887 shares of company stock worth $27,996,356 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet 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.