Alphabet Inc. (NASDAQ:GOOG – Get Rating) – Zacks Research upped their Q2 2023 earnings per share estimates for shares of Alphabet in a report released on Monday, May 8th. Zacks Research analyst S. Mete now expects that the information services provider will post earnings per share of $1.12 for the quarter, up from their previous estimate of $1.08. The consensus estimate for Alphabet’s current full-year earnings is $5.39 per share. Zacks Research also issued estimates for Alphabet’s Q3 2023 earnings at $1.17 EPS, Q4 2023 earnings at $1.34 EPS, FY2023 earnings at $4.80 EPS, Q1 2024 earnings at $1.18 EPS, Q2 2024 earnings at $1.18 EPS, Q2 2024 earnings at $1.18 EPS, Q3 2024 earnings at $1.20 EPS, Q3 2024 earnings at $1.20 EPS, Q4 2024 earnings at $1.68 EPS, FY2024 earnings at $5.24 EPS, Q1 2025 earnings at $1.51 EPS and FY2025 earnings at $7.24 EPS.
Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $68.80 billion. During the same period in the previous year, the firm earned $1.23 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year.
Alphabet Stock Performance
NASDAQ GOOG opened at $116.90 on Thursday. The company has a market cap of $1.48 trillion, a P/E ratio of 26.04, a P/E/G ratio of 1.36 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The business’s 50 day moving average price is $103.80 and its 200-day moving average price is $97.69. Alphabet has a fifty-two week low of $83.45 and a fifty-two week high of $123.26.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at $1,017,565. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the sale, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now directly owns 11,300 shares in the company, valued at $1,017,565. The disclosure for this sale can be found here. In the last three months, insiders have bought 732,217 shares of company stock valued at $21,135,371 and have sold 238,811 shares valued at $15,576,939. Company insiders own 12.99% of the company’s stock.
Institutional Investors Weigh In On Alphabet
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. DC Investments Management LLC bought a new stake in shares of Alphabet during the 1st quarter worth about $115,000. Guardian Wealth Management Inc. bought a new stake in Alphabet during the 1st quarter worth approximately $184,000. Turim 21 Investimentos Ltda. grew its holdings in Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the last quarter. qPULA Trading Management LP bought a new stake in Alphabet during the 1st quarter worth approximately $279,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $294,000. 28.69% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Company Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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