FY2024 EPS Estimates for Alphabet Boosted by Zacks Research

Alphabet Inc. (NASDAQ:GOOGL) – Analysts at Zacks Research lifted their FY2024 EPS estimates for shares of Alphabet in a report issued on Tuesday, November 19th. Zacks Research analyst R. Department now anticipates that the information services provider will post earnings of $7.89 per share for the year, up from their previous forecast of $7.55. The consensus estimate for Alphabet’s current full-year earnings is $7.99 per share. Zacks Research also issued estimates for Alphabet’s Q4 2024 earnings at $1.99 EPS, Q1 2025 earnings at $1.96 EPS, Q2 2025 earnings at $2.08 EPS, Q3 2025 earnings at $2.15 EPS, Q4 2025 earnings at $2.36 EPS, FY2025 earnings at $8.55 EPS, Q1 2026 earnings at $2.28 EPS, Q2 2026 earnings at $2.38 EPS, Q3 2026 earnings at $2.69 EPS and FY2026 earnings at $10.07 EPS.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the business posted $1.55 earnings per share.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada upped their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Roth Mkm upped their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. DA Davidson started coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Finally, JMP Securities upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Price Performance

Alphabet stock opened at $167.83 on Thursday. Alphabet has a 52-week low of $127.90 and a 52-week high of $191.75. The firm has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 22.26, a PEG ratio of 1.27 and a beta of 1.03. The company has a fifty day simple moving average of $167.50 and a 200-day simple moving average of $170.38. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GOOGL. Vanguard Group Inc. boosted its stake in Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after buying an additional 4,064,073 shares during the last quarter. State Street Corp lifted its holdings in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after acquiring an additional 743,369 shares during the period. Geode Capital Management LLC grew its holdings in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the period. Capital Research Global Investors increased its position in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Alphabet by 2.5% during the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is owned by company insiders.

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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 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.