FY2024 Earnings Estimate for Alphabet Issued By Roth Capital

Alphabet Inc. (NASDAQ:GOOGL) – Roth Capital upped their FY2024 earnings per share (EPS) estimates for shares of Alphabet in a research note issued on Wednesday, October 30th. Roth Capital analyst R. Kulkarni now expects that the information services provider will post earnings per share of $8.33 for the year, up from their previous forecast of $7.98. The consensus estimate for Alphabet’s current full-year earnings is $7.85 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:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business 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 earnings per share.

Several other equities research analysts also recently issued reports on the stock. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Evercore ISI lifted their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, DA Davidson assumed coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Trading Up 0.1 %

Alphabet stock opened at $171.29 on Friday. Alphabet has a 52 week low of $126.93 and a 52 week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 22.72, a PEG ratio of 1.29 and a beta of 1.04. The stock has a 50-day simple moving average of $162.43 and a 200 day simple moving average of $168.91.

Institutional Trading of Alphabet

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XML Financial LLC increased its stake in Alphabet by 5.5% in the third quarter. XML Financial LLC now owns 25,595 shares of the information services provider’s stock valued at $4,245,000 after acquiring an additional 1,325 shares during the last quarter. Austin Asset Management Co Inc boosted its stake in shares of Alphabet by 3.6% in the 3rd quarter. Austin Asset Management Co Inc now owns 3,550 shares of the information services provider’s stock valued at $589,000 after purchasing an additional 124 shares in the last quarter. GSG Advisors LLC raised its position in Alphabet by 13.2% in the 3rd quarter. GSG Advisors LLC now owns 6,446 shares of the information services provider’s stock worth $1,076,000 after purchasing an additional 753 shares during the period. Essex Savings Bank lifted its stake in Alphabet by 2.3% in the third quarter. Essex Savings Bank now owns 26,013 shares of the information services provider’s stock worth $4,314,000 after purchasing an additional 581 shares during the last quarter. Finally, Cypress Point Wealth Management LLC lifted its stake in Alphabet by 2.4% in the third quarter. Cypress Point Wealth Management LLC now owns 3,617 shares of the information services provider’s stock worth $600,000 after purchasing an additional 86 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,244 shares of company stock worth $37,776,954 in the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 10.61%.

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.