FY2024 EPS Estimates for Alphabet Increased by Roth Capital

Alphabet Inc. (NASDAQ:GOOG) – Stock analysts at Roth Capital lifted their FY2024 earnings per share (EPS) estimates for shares of Alphabet in a research note issued to investors on Wednesday, October 30th. Roth Capital analyst R. Kulkarni now anticipates 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 $7.83 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.

Other equities analysts have also issued research reports about the company. Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” 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. Finally, TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Down 2.0 %

Shares of Alphabet stock opened at $172.69 on Friday. Alphabet has a 12-month low of $123.93 and a 12-month high of $193.31. The stock 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 company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $163.71 and a 200-day simple moving average of $170.32.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued 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 of this dividend 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 the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,744 shares of company stock valued at $35,878,764. 12.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently modified their holdings of GOOG. Abich Financial Wealth Management LLC boosted its holdings in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alphabet in the 2nd quarter valued at about $37,000. HWG Holdings LP acquired a new position in shares of Alphabet during the 2nd quarter valued at about $40,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the second quarter worth approximately $44,000. Finally, Hoese & Co LLP increased its position in Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

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.