FY2024 Earnings Estimate for Alphabet Issued By Roth Capital

Alphabet Inc. (NASDAQ:GOOG) – Equities researchers at Roth Capital raised their FY2024 EPS estimates for shares of Alphabet in a research note issued on Wednesday, October 30th. Roth Capital analyst R. Kulkarni now forecasts that the information services provider will post earnings per share of $8.33 for the year, up from their prior estimate of $7.98. The consensus estimate for Alphabet’s current full-year earnings is $7.83 per share. Roth Capital also issued estimates for Alphabet’s Q4 2024 earnings at $2.44 EPS, Q1 2025 earnings at $2.31 EPS, Q2 2025 earnings at $2.43 EPS, Q3 2025 earnings at $2.48 EPS and Q4 2025 earnings at $2.84 EPS.

GOOG has been the subject of a number of other reports. Citigroup upped their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group upped their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Barclays boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $172.65 on Friday. The company has a market cap of $2.13 trillion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.31 and a beta of 1.04. The business has a 50 day moving average price of $163.81 and a 200 day moving average price of $170.53. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet has a twelve month low of $128.11 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 earnings per share.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares in the company, valued at $4,385,565. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. 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 quarter, insiders have sold 230,244 shares of company stock valued at $37,776,954. 12.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphabet

A number of large investors have recently added to or reduced their stakes in the company. Plimoth Trust Co. LLC lifted its position in shares of Alphabet by 1.0% in the first quarter. Plimoth Trust Co. LLC now owns 14,170 shares of the information services provider’s stock worth $2,158,000 after purchasing an additional 135 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new position in shares of Alphabet during the 1st quarter worth about $248,000. Monument Capital Management boosted its stake in shares of Alphabet by 5.6% during the 1st quarter. Monument Capital Management now owns 3,517 shares of the information services provider’s stock worth $535,000 after buying an additional 188 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Alphabet by 12.1% in the 1st quarter. Sivia Capital Partners LLC now owns 20,700 shares of the information services provider’s stock valued at $3,152,000 after acquiring an additional 2,231 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its position in shares of Alphabet by 11.8% in the first quarter. Tradewinds Capital Management LLC now owns 4,395 shares of the information services provider’s stock valued at $669,000 after acquiring an additional 464 shares during the last quarter. Institutional investors 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.