Alphabet (GOOGL) to Release Quarterly Earnings on Wednesday

Alphabet (NASDAQ:GOOGLGet Free Report) is projected to announce its results after the market closes on Wednesday, February 4th. Analysts expect the company to announce earnings of $2.59 per share and revenue of $111.2381 billion for the quarter.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. On average, analysts expect Alphabet to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Alphabet Stock Performance

Alphabet stock opened at $334.55 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market capitalization of $4.04 trillion, a P/E ratio of 32.99, a price-to-earnings-growth ratio of 1.84 and a beta of 1.08. Alphabet has a 1-year low of $140.53 and a 1-year high of $340.49. The company’s 50-day moving average is $317.62 and its 200 day moving average is $262.87.

Trending Headlines about Alphabet

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Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $312.30, for a total value of $867,569.40. Following the transaction, the chief accounting officer owned 8,962 shares of the company’s stock, valued at $2,798,832.60. The trade was a 23.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 17,829 shares of the stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total transaction of $5,614,173.81. Following the sale, the insider directly owned 42,972 shares of the company’s stock, valued at $13,531,453.08. The trade was a 29.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,409 shares of company stock valued at $68,564,532 in the last 90 days. Insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GOOGL. iSAM Funds UK Ltd bought a new position in Alphabet in the third quarter worth $53,000. Parkworth Wealth Management Inc. increased its holdings in Alphabet by 41.2% during the 2nd quarter. Parkworth Wealth Management Inc. now owns 552 shares of the information services provider’s stock valued at $97,000 after purchasing an additional 161 shares in the last quarter. Sagard Holdings Management Inc. acquired a new stake in shares of Alphabet in the second quarter valued at $99,000. Turim 21 Investimentos Ltda. lifted its position in Alphabet by 10.5% during the 3rd quarter. Turim 21 Investimentos Ltda. now owns 442 shares of the information services provider’s stock worth $107,000 after buying an additional 42 shares in the last quarter. Finally, Luminist Capital LLC lifted its position in shares of Alphabet by 14.1% during the second quarter. Luminist Capital LLC now owns 639 shares of the information services provider’s stock worth $112,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group set a $390.00 price target on Alphabet and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Bank of America lifted their target price on Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. China Renaissance upped their price target on shares of Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Oppenheimer raised their price target on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Finally, Sanford C. Bernstein boosted their price objective on shares of Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $334.60.

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About Alphabet

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

See Also

Earnings History for Alphabet (NASDAQ:GOOGL)

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