Equities Analysts Offer Predictions for Alphabet Q3 Earnings

Alphabet Inc. (NASDAQ:GOOGL) – Wedbush raised their Q3 2024 EPS estimates for Alphabet in a report released on Wednesday, October 23rd. Wedbush analyst S. Devitt now forecasts that the information services provider will post earnings of $1.81 per share for the quarter, up from their previous forecast of $1.75. Wedbush currently has a “Outperform” rating and a $205.00 target price on the stock. The consensus estimate for Alphabet’s current full-year earnings is $7.65 per share. Wedbush also issued estimates for Alphabet’s Q4 2024 earnings at $2.00 EPS and FY2024 earnings at $7.58 EPS.

Other research analysts have also recently issued reports about the stock. Truist Financial boosted their price target on shares of Alphabet from $196.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Citigroup boosted their target price on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Tuesday, October 15th. Tigress Financial boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Finally, UBS Group boosted their target price on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Up 0.9 %

Alphabet stock opened at $166.72 on Monday. Alphabet has a fifty-two week low of $122.68 and a fifty-two week high of $191.75. The stock has a market cap of $2.06 trillion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The firm’s 50-day simple moving average is $161.95 and its 200 day simple moving average is $168.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Institutional Trading of Alphabet

A number of institutional investors and hedge funds have recently bought and sold shares of GOOGL. MorganRosel Wealth Management LLC raised its stake in shares of Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC raised its stake in shares of Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after buying an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. First PREMIER Bank raised its stake in shares of Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after buying an additional 61 shares in the last quarter. Finally, MKT Advisors LLC raised its stake in shares of Alphabet by 0.8% in the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after buying an additional 62 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 11.55% of the company’s stock.

About Alphabet

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.