Alphabet Inc. Expected to Post Q3 2022 Earnings of $33.49 Per Share (NASDAQ:GOOG)

Alphabet Inc. (NASDAQ:GOOGGet Rating) – Analysts at Wedbush increased their Q3 2022 earnings estimates for shares of Alphabet in a research report issued to clients and investors on Tuesday, April 26th. Wedbush analyst Y. Arounian now anticipates that the information services provider will earn $33.49 per share for the quarter, up from their previous forecast of $31.72. Wedbush currently has a “Outperform” rating on the stock. Wedbush also issued estimates for Alphabet’s Q1 2023 earnings at $31.14 EPS, Q2 2023 earnings at $34.79 EPS, Q3 2023 earnings at $37.56 EPS and Q4 2023 earnings at $43.52 EPS.

Several other equities analysts also recently commented on GOOG. Monness Crespi & Hardt upped their price objective on shares of Alphabet from $3,660.00 to $3,850.00 and gave the company a “buy” rating in a report on Wednesday, February 2nd. Canaccord Genuity Group decreased their price objective on shares of Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Alphabet from $3,150.00 to $2,900.00 in a report on Wednesday. Raymond James decreased their price target on shares of Alphabet from $3,630.00 to $3,180.00 in a research note on Wednesday. Finally, Credit Suisse Group upped their price target on shares of Alphabet from $3,400.00 to $3,500.00 and gave the company an “outperform” rating in a research note on Wednesday, February 2nd. Three analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $3,308.77.

NASDAQ:GOOG opened at $2,388.23 on Friday. Alphabet has a one year low of $2,230.05 and a one year high of $3,042.00. The company has a market cap of $1.58 trillion, a P/E ratio of 21.28, a P/E/G ratio of 1.08 and a beta of 1.06. The firm’s fifty day moving average price is $2,649.61 and its two-hundred day moving average price is $2,778.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.93 and a quick ratio of 2.91.

Alphabet’s stock is going to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $25.51 by ($0.89). Alphabet had a return on equity of 31.56% and a net margin of 29.51%. During the same quarter in the prior year, the business earned $26.29 EPS.

Institutional investors have recently added to or reduced their stakes in the business. Banque Pictet & Cie SA grew its position in shares of Alphabet by 0.7% during the 3rd quarter. Banque Pictet & Cie SA now owns 181,454 shares of the information services provider’s stock worth $483,631,000 after buying an additional 1,270 shares during the period. California Public Employees Retirement System grew its position in shares of Alphabet by 8.3% during the 3rd quarter. California Public Employees Retirement System now owns 695,438 shares of the information services provider’s stock worth $1,853,558,000 after buying an additional 53,399 shares during the period. Geode Capital Management LLC grew its position in shares of Alphabet by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,572,016 shares of the information services provider’s stock worth $12,150,147,000 after buying an additional 43,722 shares during the period. 55I LLC grew its position in shares of Alphabet by 69.0% during the 3rd quarter. 55I LLC now owns 1,389 shares of the information services provider’s stock worth $3,703,000 after buying an additional 567 shares during the period. Finally, Crestone Asset Management LLC grew its position in shares of Alphabet by 13.5% during the 3rd quarter. Crestone Asset Management LLC now owns 478 shares of the information services provider’s stock worth $1,274,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 30.76% of the company’s stock.

In related news, CEO Sundar Pichai sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 2nd. The shares were sold at an average price of $2,992.62, for a total value of $8,977,860.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence Page sold 100 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $2,574.16, for a total transaction of $257,416.00. Following the completion of the transaction, the director now owns 19,527,502 shares of the company’s stock, valued at approximately $50,266,914,548.32. The disclosure for this sale can be found here. Insiders sold 597,775 shares of company stock valued at $153,262,635 in the last three months. Company insiders own 12.99% of the company’s stock.

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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Earnings History and Estimates for Alphabet (NASDAQ:GOOG)

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