FY2024 Earnings Forecast for Alphabet Issued By Roth Capital

Alphabet Inc. (NASDAQ:GOOGL) – Equities researchers at Roth Capital increased their FY2024 earnings per share estimates for shares of Alphabet in a report released on Wednesday, October 30th. Roth Capital analyst R. Kulkarni now forecasts that the information services provider will earn $8.33 per share for the year, up from their prior estimate of $7.98. The consensus estimate for Alphabet’s current full-year earnings is $7.85 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.

Alphabet (NASDAQ:GOOGL) last released its 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 firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the business posted $1.55 earnings per share.

GOOGL has been the topic of several other research reports. Guggenheim boosted their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Jefferies Financial Group increased their price objective on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Truist Financial raised their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group decreased their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Tigress Financial raised their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Trading Up 0.1 %

GOOGL stock opened at $171.29 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. Alphabet has a 1-year low of $126.93 and a 1-year high of $191.75. The business has a 50 day simple moving average of $162.43 and a two-hundred day simple moving average of $169.01. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.29 and a beta of 1.04.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the 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 transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the 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 transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 230,244 shares of company stock worth $37,776,954. Company insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GOOGL. International Assets Investment Management LLC raised its stake in shares of Alphabet by 43,005.6% during the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after acquiring an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC grew its holdings in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the last quarter. Capital Research Global Investors increased its position in shares of Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. Finally, Wulff Hansen & CO. boosted its position in shares of Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.