Alphabet (NASDAQ:GOOGL) Posts Earnings Results, Beats Estimates By $0.29 EPS

Alphabet (NASDAQ:GOOGL) issued its earnings results on Tuesday. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29, Yahoo Finance reports. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the business earned $1.55 EPS.

Alphabet Price Performance

NASDAQ GOOGL traded up $0.89 during midday trading on Friday, hitting $172.00. The company had a trading volume of 14,727,526 shares, compared to its average volume of 27,165,656. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet has a twelve month low of $126.93 and a twelve month high of $191.75. The company has a market capitalization of $2.12 trillion, a PE ratio of 22.67, a P/E/G ratio of 1.29 and a beta of 1.04. The firm has a 50-day moving average price of $162.32 and a 200-day moving average price of $168.79.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOGL. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a report on Wednesday. Pivotal Research boosted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Tigress Financial upped their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Sanford C. Bernstein upped their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $205.51.

Insider Buying and Selling at Alphabet

In other Alphabet news, 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 in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred 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 owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade 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 available through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. 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. 11.55% of the stock is currently owned by corporate insiders.

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.