Alphabet Inc. (NASDAQ:GOOGL) to Post Q2 2022 Earnings of $24.51 Per Share, Jefferies Financial Group Forecasts

Alphabet Inc. (NASDAQ:GOOGLGet Rating) – Analysts at Jefferies Financial Group decreased their Q2 2022 earnings per share (EPS) estimates for shares of Alphabet in a research report issued on Tuesday, May 24th. Jefferies Financial Group analyst B. Thill now anticipates that the information services provider will post earnings per share of $24.51 for the quarter, down from their prior estimate of $24.89. Jefferies Financial Group also issued estimates for Alphabet’s Q2 2022 earnings at $24.51 EPS, Q3 2022 earnings at $26.24 EPS, Q3 2022 earnings at $26.24 EPS, Q4 2022 earnings at $28.27 EPS, Q4 2022 earnings at $28.27 EPS, FY2022 earnings at $101.44 EPS, FY2022 earnings at $101.44 EPS, FY2023 earnings at $120.95 EPS and FY2023 earnings at $120.95 EPS.

Other research analysts have also recently issued research reports about the company. Tigress Financial increased their price target on Alphabet from $3,540.00 to $3,670.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 18th. The Goldman Sachs Group boosted their price target on shares of Alphabet from $3,350.00 to $3,400.00 and gave the stock a “buy” rating in a research report on Wednesday, February 2nd. Sanford C. Bernstein upped their price target on shares of Alphabet from $3,250.00 to $3,500.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 2nd. Wolfe Research lowered their price objective on shares of Alphabet from $3,500.00 to $2,900.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 27th. Finally, Barclays cut their target price on Alphabet from $3,300.00 to $3,200.00 and set an “overweight” rating for the company in a research report on Wednesday, April 27th. Three analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $3,329.84.

NASDAQ:GOOGL opened at $2,119.40 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $2,517.64 and a 200-day moving average of $2,697.68. The firm has a market capitalization of $1.40 trillion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.03 and a beta of 1.13. Alphabet has a 52 week low of $2,037.69 and a 52 week high of $3,030.93.

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

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing analysts’ consensus estimates of $25.51 by ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter last year, the company posted $26.29 earnings per share.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Alphabet by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after purchasing an additional 331,945 shares in the last quarter. State Street Corp raised its position in Alphabet by 1.4% in the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after purchasing an additional 157,280 shares during the last quarter. Geode Capital Management LLC boosted its stake in Alphabet by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock worth $15,381,257,000 after purchasing an additional 116,084 shares in the last quarter. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth $14,477,662,000. Finally, Aaron Wealth Advisors LLC increased its stake in shares of Alphabet by 699,790.2% in the first quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock valued at $1,691,000 after buying an additional 4,702,590 shares in the last quarter. Institutional investors and hedge funds own 41.70% of the company’s stock.

In other news, Director Brin Sergey sold 2,639 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 18,599,842 shares of the company’s stock, valued at $48,959,992,099.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the business’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 550,261 shares of company stock worth $21,637,779. Corporate 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.

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Earnings History and Estimates for Alphabet (NASDAQ:GOOGL)

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