Alphabet FY2024 EPS Estimate Boosted by Zacks Research

Alphabet Inc. (NASDAQ:GOOG) – Equities researchers at Zacks Research raised their FY2024 earnings per share estimates for Alphabet in a research note issued on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the information services provider will post earnings per share of $7.89 for the year, up from their previous estimate of $7.55. The consensus estimate for Alphabet’s current full-year earnings is $7.99 per share. Zacks Research also issued estimates for Alphabet’s Q4 2024 earnings at $1.99 EPS, Q1 2025 earnings at $1.96 EPS, Q2 2025 earnings at $2.08 EPS, Q3 2025 earnings at $2.15 EPS, Q4 2025 earnings at $2.36 EPS, FY2025 earnings at $8.55 EPS, Q1 2026 earnings at $2.28 EPS, Q2 2026 earnings at $2.38 EPS, Q3 2026 earnings at $2.69 EPS and FY2026 earnings at $10.07 EPS.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis.

A number of other research firms also recently commented on GOOG. JPMorgan Chase & Co. lifted their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Scotiabank started coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Down 1.3 %

Shares of NASDAQ GOOG opened at $177.33 on Thursday. Alphabet has a 1 year low of $129.40 and a 1 year high of $193.31. The company has a market capitalization of $2.17 trillion, a P/E ratio of 23.52, a P/E/G ratio of 1.26 and a beta of 1.04. The company has a 50 day simple moving average of $168.65 and a 200-day simple moving average of $171.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

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 paid 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 yield of 0.45%. Alphabet’s dividend payout ratio is currently 10.61%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,295 shares of company stock worth $30,698,791 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Twelve Points Wealth Management LLC boosted its stake in Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after acquiring an additional 55 shares in the last quarter. PCG Wealth Advisors LLC lifted its holdings in shares of Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV boosted its position in shares of Alphabet by 1.6% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after purchasing an additional 57 shares during the period. Advisors Management Group Inc. ADV grew its stake in Alphabet by 2.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after buying an additional 58 shares during the last quarter. Finally, Shira Ridge Wealth Management increased its position in Alphabet by 0.4% during the second quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock worth $2,841,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

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.