Alphabet Inc. (NASDAQ:GOOG – Free Report) – Stock analysts at Zacks Research increased their Q3 2023 earnings estimates for shares of Alphabet in a research note issued on Tuesday, August 8th. Zacks Research analyst S. Mete now expects that the information services provider will post earnings of $1.26 per share for the quarter, up from their prior forecast of $1.17. The consensus estimate for Alphabet’s current full-year earnings is $5.64 per share. Zacks Research also issued estimates for Alphabet’s Q4 2023 earnings at $1.42 EPS, Q1 2024 earnings at $1.25 EPS, Q4 2024 earnings at $1.93 EPS, Q1 2025 earnings at $1.54 EPS, Q2 2025 earnings at $1.71 EPS and FY2025 earnings at $7.44 EPS.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. The firm had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 earnings per share.
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Alphabet Stock Performance
NASDAQ GOOG opened at $130.17 on Friday. The company has a 50-day simple moving average of $124.42 and a two-hundred day simple moving average of $111.56. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. Alphabet has a 12-month low of $83.45 and a 12-month high of $134.07. The firm has a market cap of $1.64 trillion, a price-to-earnings ratio of 27.59, a PEG ratio of 1.51 and a beta of 1.06.
Institutional Trading of Alphabet
Hedge funds have recently made changes to their positions in the stock. DC Investments Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $115,000. Guardian Wealth Management Inc. acquired a new position in Alphabet during the first quarter worth $184,000. Turim 21 Investimentos Ltda. raised its stake in Alphabet by 10.8% during the first 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 in the last quarter. qPULA Trading Management LP acquired a new position in Alphabet during the first quarter worth $279,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at $294,000. Institutional investors and hedge funds own 27.17% of the company’s stock.
Insider Activity
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the transaction, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 75,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $120.01, for a total transaction of $9,000,750.00. Following the transaction, the director now owns 32,240 shares of the company’s stock, valued at approximately $3,869,122.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 611,176 shares of company stock valued at $22,830,011. Company insiders own 12.99% of the company’s stock.
Alphabet Company Profile
Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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