Alphabet Inc. (NASDAQ:GOOGL) to Post Q2 2022 Earnings of $27.27 Per Share, Oppenheimer Forecasts

Alphabet Inc. (NASDAQ:GOOGLGet Rating) – Equities research analysts at Oppenheimer cut their Q2 2022 earnings per share estimates for Alphabet in a report released on Tuesday, April 12th. Oppenheimer analyst J. Helfstein now expects that the information services provider will post earnings of $27.27 per share for the quarter, down from their prior estimate of $29.04. Oppenheimer also issued estimates for Alphabet’s FY2022 earnings at $114.07 EPS.

Several other research firms have also commented on GOOGL. MKM Partners dropped their price target on Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating for the company in a research report on Thursday. Wolfe Research lifted their target price on Alphabet from $3,400.00 to $3,600.00 and gave the stock an “outperform” rating in a report on Wednesday, February 2nd. Susquehanna Bancshares lifted their price objective on shares of Alphabet from $3,600.00 to $3,750.00 and gave the stock a “positive” rating in a research note on Wednesday, February 2nd. Stifel Nicolaus boosted their price objective on shares of Alphabet from $3,200.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, February 2nd. Finally, UBS Group raised their target price on shares of Alphabet from $3,800.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, February 2nd. Five research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $3,382.18.

Alphabet stock opened at $2,534.60 on Friday. Alphabet has a 52-week low of $2,193.62 and a 52-week high of $3,030.93. The company has a quick ratio of 2.91, a current ratio of 2.93 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $2,695.66 and its 200 day moving average is $2,789.50. The company has a market cap of $1.68 trillion, a price-to-earnings ratio of 22.58, a PEG ratio of 1.12 and a beta of 1.06.

Shares of Alphabet are going to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be distributed to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings data on Tuesday, February 1st. The information services provider reported $30.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $26.69 by $4.00. Alphabet had a return on equity of 31.56% and a net margin of 29.51%. The business had revenue of $61.90 billion for the quarter, compared to analysts’ expectations of $59.32 billion. During the same period in the prior year, the firm earned $22.30 EPS.

A number of large investors have recently bought and sold shares of GOOGL. Norges Bank acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $14,477,662,000. Nordea Investment Management AB grew its position in Alphabet by 102.6% during the third quarter. Nordea Investment Management AB now owns 1,258,061 shares of the information services provider’s stock valued at $3,400,261,000 after buying an additional 637,153 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Alphabet during the fourth quarter valued at $1,680,864,000. Fortis Advisors LLC increased its holdings in Alphabet by 149,779.0% in the third quarter. Fortis Advisors LLC now owns 535,068 shares of the information services provider’s stock valued at $1,508,000 after buying an additional 534,711 shares in the last quarter. Finally, Fundsmith LLP acquired a new position in shares of Alphabet in the fourth quarter worth about $1,214,138,000. 34.47% of the stock is currently owned by institutional investors.

In other news, Director Brin Sergey sold 2,639 shares of the stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $2,632.28, for a total value of $6,946,586.92. Following the transaction, the director now directly owns 18,599,842 shares of the company’s stock, valued at $48,959,992,099.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the firm’s stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The disclosure for this sale can be found here. Company insiders own 13.20% of the company’s stock.

About Alphabet (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.

Further Reading

Earnings History and Estimates for Alphabet (NASDAQ:GOOGL)

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