Zacks Research Has Positive View of Alphabet FY2024 Earnings

Alphabet Inc. (NASDAQ:GOOGL) – Equities research analysts at Zacks Research upped their FY2024 earnings estimates for shares of Alphabet in a report issued on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the information services provider will post earnings of $7.89 per share for the year, up from their previous estimate of $7.55. The consensus estimate for Alphabet’s current full-year earnings is $7.99 per share. Zacks Research also issued estimates for Alphabet’s Q4 2024 earnings at $1.99 EPS, Q1 2025 earnings at $1.96 EPS, Q2 2025 earnings at $2.08 EPS, Q3 2025 earnings at $2.15 EPS, Q4 2025 earnings at $2.36 EPS, FY2025 earnings at $8.55 EPS, Q1 2026 earnings at $2.28 EPS, Q2 2026 earnings at $2.38 EPS, Q3 2026 earnings at $2.69 EPS and FY2026 earnings at $10.07 EPS.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the firm posted $1.55 earnings per share.

Other equities analysts also recently issued research reports about the stock. Citigroup boosted their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Loop Capital raised their price target on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Evercore ISI boosted their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, KeyCorp raised their target price on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Trading Down 1.2 %

NASDAQ:GOOGL opened at $175.98 on Thursday. Alphabet has a 12-month low of $127.90 and a 12-month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50 day simple moving average of $167.23 and a 200 day simple moving average of $170.40. The firm has a market capitalization of $2.15 trillion, a P/E ratio of 23.34, a P/E/G ratio of 1.27 and a beta of 1.03.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. LMR Partners LLP bought a new stake in Alphabet during the third quarter worth approximately $32,000. Kings Path Partners LLC acquired a new position in Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC bought a new position in shares of Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP acquired a new stake in shares of Alphabet in the second quarter worth $53,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,295 shares of company stock valued at $30,698,791. Corporate insiders own 11.55% of the company’s stock.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.