Alphabet Inc. (NASDAQ:GOOG – Get Rating) – Equities research analysts at KeyCorp boosted their Q1 2022 earnings per share estimates for shares of Alphabet in a report released on Tuesday, April 19th. KeyCorp analyst J. Patterson now anticipates that the information services provider will post earnings per share of $24.17 for the quarter, up from their prior estimate of $22.90. KeyCorp also issued estimates for Alphabet’s Q2 2022 earnings at $24.71 EPS, Q3 2022 earnings at $27.13 EPS, Q4 2022 earnings at $38.16 EPS and FY2022 earnings at $114.09 EPS.
Several other analysts have also issued reports on the company. JPMorgan Chase & Co. upped their target price on Alphabet from $3,250.00 to $3,450.00 and gave the stock an “overweight” rating in a report on Wednesday, February 2nd. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 25th. Tigress Financial raised their target price on shares of Alphabet from $3,540.00 to $3,670.00 in a research note on Friday, March 18th. Bank of America increased their price target on shares of Alphabet from $3,210.00 to $3,470.00 in a research note on Wednesday, January 19th. Finally, Cowen lifted their price objective on shares of Alphabet from $3,500.00 to $3,600.00 and gave the company an “outperform” rating in a research report on Wednesday, February 2nd. Three investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $3,349.07.
Alphabet’s stock is 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 payable to shareholders after the market closes on Friday, July 15th.
Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings results on Monday, January 31st. The information services provider reported $30.69 earnings per share for the quarter, topping analysts’ consensus estimates of $26.69 by $4.00. The firm had revenue of $75.33 billion during the quarter, compared to the consensus estimate of $71.81 billion. Alphabet had a return on equity of 31.56% and a net margin of 29.51%. The business’s revenue was up 32.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $22.30 EPS.
In other Alphabet news, Director Lawrence Page sold 100 shares of the company’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $2,574.16, for a total value of $257,416.00. Following the sale, the director now owns 19,527,502 shares in the company, valued at approximately $50,266,914,548.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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. Over the last quarter, insiders have sold 597,775 shares of company stock worth $153,262,635. 12.99% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GOOG. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at about $2,249,092,000. Fortis Advisors LLC increased its holdings in Alphabet by 118,154.8% in the third quarter. Fortis Advisors LLC now owns 709,529 shares of the information services provider’s stock worth $2,194,000 after purchasing an additional 708,929 shares in the last quarter. TD Asset Management Inc. lifted its stake in Alphabet by 62.0% in the fourth quarter. TD Asset Management Inc. now owns 890,592 shares of the information services provider’s stock valued at $2,577,008,000 after buying an additional 340,733 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $754,814,000. Finally, SkyView Investment Advisors LLC grew its position in shares of Alphabet by 20,160.8% during the 4th quarter. SkyView Investment Advisors LLC now owns 240,901 shares of the information services provider’s stock worth $3,848,000 after buying an additional 239,712 shares during the period. 30.76% of the stock is owned by institutional investors and hedge funds.
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.
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