Jefferies Financial Group Analysts Lower Earnings Estimates for Alphabet Inc. (NASDAQ:GOOGL)

Alphabet Inc. (NASDAQ:GOOGLGet Rating) – Research analysts at Jefferies Financial Group lowered their Q3 2022 earnings per share estimates for Alphabet in a research note issued to investors on Wednesday, July 27th. Jefferies Financial Group analyst B. Thill now expects that the information services provider will post earnings per share of $1.24 for the quarter, down from their previous estimate of $1.31. Jefferies Financial Group has a “Buy” rating and a $130.00 price objective on the stock. The consensus estimate for Alphabet’s current full-year earnings is $5.37 per share. Jefferies Financial Group also issued estimates for Alphabet’s Q4 2022 earnings at $1.29 EPS and FY2022 earnings at $4.86 EPS.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period in the previous year, the company posted $27.26 earnings per share.

A number of other equities research analysts also recently commented on GOOGL. Citigroup lowered their price objective on Alphabet from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday. BMO Capital Markets lowered their price objective on Alphabet from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Wednesday, April 27th. JMP Securities lowered their price target on Alphabet from $165.00 to $160.00 and set a “market outperform” rating for the company in a research report on Thursday, June 30th. StockNews.com downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Finally, Monness Crespi & Hardt lowered their price target on Alphabet to $145.00 in a research report on Tuesday, July 5th. Five analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $148.80.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $114.22 on Thursday. The company has a market cap of $1.50 trillion, a P/E ratio of 20.66, a P/E/G ratio of 1.12 and a beta of 1.10. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. Alphabet has a 52 week low of $101.88 and a 52 week high of $151.55. The business has a fifty day simple moving average of $154.31 and a 200-day simple moving average of $138.90.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOOGL. Dravo Bay LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at $28,000. Morling Financial Advisors LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $29,000. West Bancorporation Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at $29,000. Financial Enhancement Group LLC purchased a new stake in shares of Alphabet in the first quarter valued at $31,000. Finally, Wealthgate Family Office LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at $32,000. 41.70% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other news, Director Ann Mather sold 20 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the transaction, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ann Mather sold 20 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the transaction, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 42 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total value of $98,082.60. Following the transaction, the chief accounting officer now directly owns 1,170 shares of the company’s stock, valued at $2,732,301. The disclosure for this sale can be found here. Insiders sold a total of 6,039 shares of company stock valued at $12,649,005 over the last three months. 11.44% of the stock is owned by insiders.

Alphabet Company Profile

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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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