Research Analysts Set Expectations for Alphabet Inc.’s Q2 2023 Earnings (NASDAQ:GOOG)

Posted by Defense World Staff on Apr 26th, 2023

Alphabet Inc. (NASDAQ:GOOG – Get Rating) – Investment analysts at KeyCorp upped their Q2 2023 earnings per share estimates for shares of Alphabet in a research note issued to investors on Sunday, April 23rd. KeyCorp analyst J. Patterson now anticipates that the information services provider will earn $1.26 per share for the quarter, up from their previous estimate of $1.23. The consensus estimate for Alphabet’s current full-year earnings is $5.11 per share.

GOOG has been the topic of several other reports. UBS Group upped their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Credit Suisse Group set a $136.00 price objective on Alphabet in a report on Friday, February 3rd. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Bank of America lifted their price target on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. Finally, Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a research note on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.37.

Alphabet Price Performance

GOOG stock opened at $104.61 on Tuesday. The company has a market capitalization of $1.34 trillion, a PE ratio of 22.99, a P/E/G ratio of 1.47 and a beta of 1.10. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average is $100.04 and its two-hundred day moving average is $96.95. Alphabet has a 52-week low of $83.45 and a 52-week high of $123.26.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 earnings per share.

Institutional Trading of Alphabet

Several large investors have recently modified their holdings of the company. OLD Second National Bank of Aurora grew its position in Alphabet by 1,900.0% in the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares during the last quarter. Westchester Capital Management Inc. lifted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock worth $25,000 after buying an additional 247 shares during the period. Corrado Advisors LLC acquired a new stake in Alphabet in the 4th quarter valued at $27,000. Saban Cheryl grew its position in Alphabet by 1,900.0% in the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 190 shares during the period. Finally, Gould Capital LLC raised its stake in Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock worth $30,000 after acquiring an additional 301 shares in the last quarter. 28.69% of the stock is owned by institutional investors.

Insider Activity

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total transaction of $63,617.19. Following the completion of the sale, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The disclosure for this sale can be found here. Insiders sold a total of 100,539 shares of company stock worth $10,209,164 in the last three months. 12.99% of the stock is owned by insiders.

Alphabet Company Profile

(Get Rating)

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.