Q3 2024 Earnings Forecast for Alphabet Inc. (NASDAQ:GOOG) Issued By DA Davidson

Alphabet Inc. (NASDAQ:GOOG) – Equities research analysts at DA Davidson issued their Q3 2024 earnings per share (EPS) estimates for Alphabet in a report released on Wednesday, September 11th. DA Davidson analyst G. Luria expects that the information services provider will post earnings per share of $1.83 for the quarter. DA Davidson has a “Hold” rating on the stock. The consensus estimate for Alphabet’s current full-year earnings is $7.63 per share. DA Davidson also issued estimates for Alphabet’s FY2024 earnings at $7.62 EPS and FY2025 earnings at $8.68 EPS.

A number of other equities research analysts have also commented on GOOG. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Oppenheimer raised their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Trading Up 1.8 %

NASDAQ:GOOG opened at $158.37 on Friday. Alphabet has a 1-year low of $121.46 and a 1-year high of $193.31. The business’s 50-day moving average price is $169.06 and its two-hundred day moving average price is $166.15. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the business earned $1.44 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet’s dividend payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. Insiders sold a total of 201,867 shares of company stock worth $34,218,581 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Richardson Financial Services Inc. acquired a new stake in Alphabet during the 4th quarter worth approximately $34,000. Abich Financial Wealth Management LLC lifted its holdings in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP acquired a new position in Alphabet in the 2nd quarter valued at $40,000. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet in the 2nd quarter valued at $44,000. 27.26% of the stock is currently owned by institutional investors.

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.