FY2024 EPS Estimates for Alphabet Boosted by Zacks Research

Alphabet Inc. (NASDAQ:GOOGL) – Investment analysts at Zacks Research raised their FY2024 earnings per share estimates for shares of Alphabet in a research note issued on Tuesday, November 19th. Zacks Research analyst R. Department now anticipates that the information services provider will post earnings of $7.89 per share for the year, up from their prior estimate of $7.55. The consensus estimate for Alphabet’s current full-year earnings is $7.99 per share. Zacks Research also issued estimates for Alphabet’s Q4 2024 earnings at $1.99 EPS, Q1 2025 earnings at $1.96 EPS, Q2 2025 earnings at $2.08 EPS, Q3 2025 earnings at $2.15 EPS, Q4 2025 earnings at $2.36 EPS, FY2025 earnings at $8.55 EPS, Q1 2026 earnings at $2.28 EPS, Q2 2026 earnings at $2.38 EPS, Q3 2026 earnings at $2.69 EPS and FY2026 earnings at $10.07 EPS.

A number of other equities analysts have also recently weighed in on GOOGL. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Tigress Financial upped their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Truist Financial upped their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Down 4.6 %

NASDAQ GOOGL opened at $167.83 on Thursday. The stock has a market cap of $2.05 trillion, a PE ratio of 22.26, a P/E/G ratio of 1.27 and a beta of 1.03. Alphabet has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The business has a 50 day moving average price of $167.50 and a two-hundred day moving average price of $170.38. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations 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 earned $1.55 EPS.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 in the last 90 days. 11.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. LMR Partners LLP acquired a new position in Alphabet during the 3rd quarter worth about $32,000. Kings Path Partners LLC acquired a new position in Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter worth about $41,000. Finally, Quarry LP acquired a new position in Alphabet during the 2nd quarter worth about $53,000. 40.03% of the stock is owned by institutional investors.

About Alphabet

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.