What is DA Davidson’s Estimate for Alphabet FY2024 Earnings?

Alphabet Inc. (NASDAQ:GOOG) – Research analysts at DA Davidson increased their FY2024 earnings per share (EPS) estimates for shares of Alphabet in a research note issued to investors on Wednesday, October 30th. DA Davidson analyst G. Luria now expects that the information services provider will post earnings per share of $7.93 for the year, up from their prior forecast of $7.62. DA Davidson has a “Hold” rating on the stock. The consensus estimate for Alphabet’s current full-year earnings is $7.64 per share. DA Davidson also issued estimates for Alphabet’s Q4 2024 earnings at $2.03 EPS and FY2025 earnings at $8.75 EPS.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the previous year, the business posted $1.55 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year.

Other research analysts have also recently issued research reports about the stock. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Canaccord Genuity Group raised their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday. Barclays lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup upped their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group lifted their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Down 2.0 %

Shares of NASDAQ GOOG opened at $172.69 on Thursday. Alphabet has a 1-year low of $123.93 and a 1-year high of $193.31. The company has a 50-day moving average of $163.71 and a two-hundred day moving average of $170.32. The company has a market cap of $2.13 trillion, a PE ratio of 26.49, a P/E/G ratio of 1.27 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $164.95, for a total value of $247,425.00. Following the transaction, the director now owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,744 shares of company stock valued at $35,878,764 over the last 90 days. 12.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Abich Financial Wealth Management LLC lifted its position in shares of Alphabet by 9,200.0% in the second 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 in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP bought a new stake in Alphabet during the 2nd quarter worth about $40,000. Slocum Gordon & Co LLP acquired a new position in shares of Alphabet during the 2nd quarter worth about $44,000. Finally, Hoese & Co LLP grew its holdings in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

About Alphabet

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.