Alphabet (NASDAQ:GOOGL) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Alphabet (NASDAQ:GOOGL) released its earnings results on Tuesday. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04, RTT News reports. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.96% and a net margin of 26.70%. During the same period last year, the company earned $1.44 earnings per share.

Alphabet Price Performance

Shares of GOOGL traded down $5.35 during trading hours on Thursday, hitting $167.28. 44,763,318 shares of the stock were exchanged, compared to its average volume of 28,056,348. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.36 and a beta of 1.05. The stock’s 50-day moving average price is $179.36 and its two-hundred day moving average price is $160.10.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays raised their price target on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. raised their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday. Wedbush restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Monday. Guggenheim raised their price target on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.74.

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 Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,488 shares of company stock worth $21,866,705. 11.55% of the stock is 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.