FY2024 Earnings Forecast for Alphabet Issued By Roth Capital

Alphabet Inc. (NASDAQ:GOOG) – Roth Capital lifted their FY2024 earnings estimates for Alphabet in a research note issued to investors on Wednesday, October 30th. Roth Capital analyst R. Kulkarni now anticipates that the information services provider will post earnings of $8.33 per share for the year, up from their prior estimate of $7.98. The consensus estimate for Alphabet’s current full-year earnings is $7.83 per share. Roth Capital also issued estimates for Alphabet’s Q4 2024 earnings at $2.44 EPS, Q1 2025 earnings at $2.31 EPS, Q2 2025 earnings at $2.43 EPS, Q3 2025 earnings at $2.48 EPS and Q4 2025 earnings at $2.84 EPS.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share.

GOOG has been the subject of several other reports. UBS Group upped their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday. Canaccord Genuity Group upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday. Scotiabank began coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Finally, Oppenheimer increased their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Down 0.0 %

GOOG stock opened at $172.65 on Friday. Alphabet has a one year low of $128.11 and a one year high of $193.31. The stock has a market capitalization of $2.13 trillion, a P/E ratio of 22.90, a PEG ratio of 1.31 and a beta of 1.04. The company has a 50 day moving average price of $163.81 and a two-hundred day moving average price of $170.43. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,244 shares of company stock valued at $37,776,954 over the last quarter. Company insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Several large investors have recently modified their holdings of GOOG. Twelve Points Wealth Management LLC boosted its holdings in Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the last quarter. PCG Wealth Advisors LLC boosted its stake in shares of Alphabet by 3.1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after buying an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV grew its position in shares of Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after buying an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV increased its stake in shares of Alphabet by 2.0% in the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after buying an additional 58 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after acquiring an additional 60 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

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.