FY2024 EPS Estimates for Alphabet Lifted by Seaport Res Ptn

Alphabet Inc. (NASDAQ:GOOG) – Equities researchers at Seaport Res Ptn raised their FY2024 EPS estimates for shares of Alphabet in a research note issued on Tuesday, October 29th. Seaport Res Ptn analyst A. Kessler now forecasts that the information services provider will post earnings per share of $8.02 for the year, up from their prior estimate of $7.70. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for Alphabet’s current full-year earnings is $7.83 per share. Seaport Res Ptn also issued estimates for Alphabet’s Q4 2024 earnings at $2.13 EPS, Q1 2025 earnings at $2.02 EPS, Q2 2025 earnings at $2.12 EPS, Q3 2025 earnings at $2.23 EPS, Q4 2025 earnings at $2.36 EPS and FY2025 earnings at $8.73 EPS.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business posted $1.55 EPS.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. Scotiabank initiated coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Price Performance

NASDAQ:GOOG opened at $172.65 on Thursday. The company has a 50-day moving average of $163.81 and a 200-day moving average of $170.43. The company has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.31 and a beta of 1.04. Alphabet has a 52 week low of $128.11 and a 52 week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95.

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 paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 230,244 shares of company stock worth $37,776,954. Corporate insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC grew its position in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new position in Alphabet during the 2nd quarter valued at $37,000. HWG Holdings LP bought a new position in Alphabet during the 2nd quarter valued at $40,000. Slocum Gordon & Co LLP bought a new position in Alphabet during the 2nd quarter valued at $44,000. Finally, Hoese & Co LLP lifted its stake in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 27.26% 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.