Q3 2024 EPS Estimates for Alphabet Inc. (NASDAQ:GOOGL) Decreased by Analyst

Alphabet Inc. (NASDAQ:GOOGL) – Roth Capital dropped their Q3 2024 earnings estimates for Alphabet in a report released on Tuesday, July 23rd. Roth Capital analyst R. Kulkarni now anticipates that the information services provider will post earnings per share of $1.96 for the quarter, down from their prior estimate of $1.99. The consensus estimate for Alphabet’s current full-year earnings is $7.63 per share. Roth Capital also issued estimates for Alphabet’s Q4 2024 earnings at $2.24 EPS and FY2024 earnings at $7.98 EPS.

Other research analysts have also recently issued research reports about the stock. Mizuho raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday. Sanford C. Bernstein raised their target price on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday. Raymond James raised their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company raised their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $203.74.

Alphabet Trading Down 0.2 %

NASDAQ GOOGL opened at $167.00 on Friday. The company has a fifty day simple moving average of $179.04 and a two-hundred day simple moving average of $160.48. The stock has a market cap of $2.06 trillion, a P/E ratio of 25.61, a P/E/G ratio of 1.25 and a beta of 1.05. Alphabet has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.15 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the company posted $1.44 earnings per share.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. 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 0.48%. Alphabet’s payout ratio is presently 12.27%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were 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 owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,388 shares of company stock worth $21,497,609. 11.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently made changes to their positions in GOOGL. Norges Bank purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $15,441,917,000. Capital Research Global Investors increased its stake in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares during the period. Vanguard Group Inc. increased its stake in Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado increased its stake in Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after buying an additional 6,010,548 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other 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.