Alphabet Inc. (NASDAQ:GOOG – Get Rating) – Oppenheimer reduced their Q1 2022 earnings per share (EPS) estimates for Alphabet in a research note issued on Tuesday, April 12th. Oppenheimer analyst J. Helfstein now forecasts that the information services provider will post earnings of $25.55 per share for the quarter, down from their prior estimate of $25.81. Oppenheimer also issued estimates for Alphabet’s Q3 2022 earnings at $29.04 EPS, Q4 2022 earnings at $32.31 EPS and FY2023 earnings at $137.33 EPS.
Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings results on Monday, January 31st. The information services provider reported $30.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $26.69 by $4.00. Alphabet had a net margin of 29.51% and a return on equity of 31.56%. The company had revenue of $75.33 billion for the quarter, compared to analysts’ expectations of $71.81 billion. During the same quarter in the previous year, the company earned $22.30 earnings per share. Alphabet’s quarterly revenue was up 32.4% on a year-over-year basis.
NASDAQ:GOOG opened at $2,605.72 on Thursday. Alphabet has a one year low of $2,230.05 and a one year high of $3,042.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.93 and a quick ratio of 2.91. The company’s 50-day simple moving average is $2,707.36 and its 200 day simple moving average is $2,798.16. The firm has a market capitalization of $1.72 trillion, a P/E ratio of 23.22, a PEG ratio of 1.11 and a beta of 1.06.
Alphabet’s stock is scheduled to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be distributed to shareholders after the closing bell on Friday, July 15th.
In other news, Director Lawrence Page sold 13,889 shares of the stock in a transaction on Tuesday, January 18th. The shares were sold at an average price of $2,729.91, for a total value of $37,915,719.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 3,000 shares of the stock in a transaction on Wednesday, February 2nd. The stock was sold at an average price of $2,992.62, for a total transaction of $8,977,860.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 620,237 shares of company stock valued at $215,086,801. 12.99% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. New England Professional Planning Group Inc. purchased a new stake in shares of Alphabet in the first quarter worth $283,000. Gilman Hill Asset Management LLC boosted its position in shares of Alphabet by 4.5% during the first quarter. Gilman Hill Asset Management LLC now owns 561 shares of the information services provider’s stock worth $1,567,000 after acquiring an additional 24 shares during the last quarter. Monument Capital Management boosted its position in shares of Alphabet by 3.0% during the first quarter. Monument Capital Management now owns 271 shares of the information services provider’s stock worth $757,000 after acquiring an additional 8 shares during the last quarter. Glassman Wealth Services boosted its position in shares of Alphabet by 2.3% during the first quarter. Glassman Wealth Services now owns 1,179 shares of the information services provider’s stock worth $3,293,000 after acquiring an additional 27 shares during the last quarter. Finally, Yarbrough Capital LLC boosted its position in shares of Alphabet by 44.7% during the first quarter. Yarbrough Capital LLC now owns 14,665 shares of the information services provider’s stock worth $40,959,000 after acquiring an additional 4,528 shares during the last quarter. 30.76% of the stock is owned by hedge funds and other institutional investors.
Alphabet Company Profile (Get Rating)
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
- Get a free copy of the StockNews.com research report on Alphabet (GOOG)
- OrganiGram’s Turnaround Begins To Blossom
- Three Dividend Stocks With Growth Potential
- Exelon Stock Still Has Extraordinary Upside
- Ross Stores On The Verge Of Major Rally
- Greenbrier Companies Stock has Green in its Future
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.