Q2 2024 EPS Estimates for Alphabet Inc. (NASDAQ:GOOG) Lifted by Seaport Res Ptn

Alphabet Inc. (NASDAQ:GOOG) – Research analysts at Seaport Res Ptn increased their Q2 2024 EPS estimates for shares of Alphabet in a research note issued on Thursday, April 25th. Seaport Res Ptn analyst A. Kessler now expects that the information services provider will post earnings per share of $1.82 for the quarter, up from their previous forecast of $1.70. The consensus estimate for Alphabet’s current full-year earnings is $6.80 per share. Seaport Res Ptn also issued estimates for Alphabet’s Q3 2024 earnings at $1.81 EPS and Q4 2024 earnings at $2.00 EPS.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period last year, the company posted $1.17 earnings per share. The business’s quarterly revenue was up 15.4% on a year-over-year basis.

GOOG has been the topic of a number of other reports. Stifel Nicolaus upped their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer upped their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, Raymond James raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $165.67.

Alphabet Price Performance

GOOG stock opened at $164.64 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The company’s 50-day moving average is $150.09 and its 200-day moving average is $143.16. The stock has a market capitalization of $2.05 trillion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. Alphabet has a 1 year low of $104.50 and a 1 year high of $176.42.

Alphabet Announces Dividend

The business also recently declared a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 253,289 shares of company stock worth $36,724,534. Corporate insiders own 12.99% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOOG. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter worth approximately $4,101,040,000. JPMorgan Chase & Co. increased its position in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Alphabet in the fourth quarter valued at $11,600,970,000. FMR LLC lifted its position in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after buying an additional 4,348,188 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Alphabet by 198.7% during the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after acquiring an additional 2,583,128 shares during the period. 27.26% of the stock is currently 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.