Q1 2022 EPS Estimates for Alphabet Inc. (NASDAQ:GOOG) Reduced by Analyst

Alphabet Inc. (NASDAQ:GOOGGet 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:GOOGGet 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.

Several other equities research analysts have also commented on the stock. Credit Suisse Group boosted their price objective on shares of Alphabet from $3,400.00 to $3,500.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 2nd. Bank of America boosted their price objective on shares of Alphabet from $3,210.00 to $3,470.00 in a research note on Wednesday, January 19th. Raymond James boosted their price objective on shares of Alphabet from $3,400.00 to $3,630.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 2nd. Zacks Investment Research lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Alphabet in a research note on Friday, March 11th. They issued a “buy” rating and a $3,150.00 target price on the stock. Three analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Buy” and a consensus target price of $3,335.87.

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.

See Also

Earnings History and Estimates for Alphabet (NASDAQ:GOOG)

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