Seaport Res Ptn Predicts Increased Earnings for Alphabet

Alphabet Inc. (NASDAQ:GOOGL) – Equities researchers at Seaport Res Ptn boosted their FY2024 EPS estimates for shares of Alphabet in a report released on Tuesday, October 29th. Seaport Res Ptn analyst A. Kessler now forecasts that the information services provider will post earnings per share of $8.02 for the year, up from their previous estimate of $7.70. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for Alphabet’s current full-year earnings is $7.65 per share. Seaport Res Ptn also issued estimates for Alphabet’s Q4 2024 earnings at $2.13 EPS, Q1 2025 earnings at $2.02 EPS, Q2 2025 earnings at $2.12 EPS, Q3 2025 earnings at $2.23 EPS, Q4 2025 earnings at $2.36 EPS and FY2025 earnings at $8.73 EPS.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the company posted $1.55 EPS.

A number of other equities analysts also recently commented on GOOGL. Argus boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Sanford C. Bernstein raised their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Finally, Wolfe Research assumed coverage on shares of Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Price Performance

GOOGL stock opened at $171.11 on Thursday. Alphabet has a 1 year low of $122.68 and a 1 year high of $191.75. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 26.24, a P/E/G ratio of 1.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business’s 50-day moving average is $162.32 and its two-hundred day moving average is $168.79.

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 dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insiders Place Their Bets

In related news, 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 transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This 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, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,744 shares of company stock worth $35,878,764. Insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after buying an additional 238,403 shares during the period. Capital World Investors increased its holdings in shares of Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after buying an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after buying an additional 418,204 shares during the last quarter. 40.03% 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.