Alphabet Inc. (NASDAQ:GOOGL – Free Report) – Analysts at Roth Capital reduced their FY2024 earnings estimates for shares of Alphabet in a research note issued to investors on Tuesday, January 21st. Roth Capital analyst R. Kulkarni now forecasts that the information services provider will post earnings per share of $8.31 for the year, down from their previous estimate of $8.33. The consensus estimate for Alphabet’s current full-year earnings is $8.03 per share. Roth Capital also issued estimates for Alphabet’s Q4 2024 earnings at $2.42 EPS.
A number of other equities research analysts also recently issued reports on GOOGL. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Piper Sandler restated an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus upped their target price on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.67.
Alphabet Stock Performance
Shares of GOOGL opened at $198.37 on Thursday. 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 stock has a market capitalization of $2.43 trillion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. Alphabet has a 52-week low of $130.66 and a 52-week high of $202.29. The stock’s 50-day simple moving average is $185.46 and its 200 day simple moving average is $173.55.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the business posted $1.55 earnings per share.
Hedge Funds Weigh In On Alphabet
A number of institutional investors and hedge funds have recently made changes to their positions in GOOGL. Schear Investment Advisers LLC increased its stake in Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC increased its position in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares in the last quarter. Landscape Capital Management L.L.C. increased its position in shares of Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after acquiring an additional 5,516 shares in the last quarter. abrdn plc lifted its position in Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after acquiring an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. lifted its position in Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.
Insiders Place Their Bets
In related news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,387 shares of company stock worth $24,368,654. 11.55% of the stock is currently owned by corporate insiders.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet’s dividend payout ratio is presently 10.61%.
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.
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