Roth Capital Issues Negative Estimate for Alphabet Earnings

Alphabet Inc. (NASDAQ:GOOG) – Research analysts at Roth Capital decreased their FY2024 earnings per share (EPS) estimates for Alphabet in a note issued to investors on Tuesday, January 21st. Roth Capital analyst R. Kulkarni now expects that the information services provider will earn $8.31 per share for the year, down from their prior estimate of $8.33. The consensus estimate for Alphabet’s current full-year earnings is $8.03 per share. Roth Capital also issued estimates for Alphabet’s Q4 2024 earnings at $2.42 EPS.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Scotiabank began coverage on Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective for the company. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Citigroup increased their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Down 0.2 %

Shares of GOOG opened at $199.58 on Thursday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $186.95 and a two-hundred day moving average price of $175.06. The stock has a market cap of $2.44 trillion, a price-to-earnings ratio of 26.47, a P/E/G ratio of 1.27 and a beta of 0.99. Alphabet has a 12 month low of $131.55 and a 12 month high of $203.84.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $1.55 EPS.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s 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 in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the sale, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock worth $24,368,654 over the last 90 days. Insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. M&G PLC bought a new position in Alphabet during the 3rd quarter worth approximately $2,240,000. Coldstream Capital Management Inc. boosted its position in shares of Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after purchasing an additional 14,738 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after buying an additional 4,292 shares during the period. Stevens Capital Management LP increased its position in shares of Alphabet by 172.9% in the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after buying an additional 57,810 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its stake in Alphabet by 10.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after buying an additional 5,892 shares during the period. Institutional investors own 27.26% of the company’s stock.

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.