Seaport Res Ptn upgraded shares of Alphabet (NASDAQ:GOOG – Free Report) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning, Zacks.com reports. Seaport Res Ptn also issued estimates for Alphabet’s Q4 2024 earnings at $2.13 EPS, FY2024 earnings at $8.02 EPS, Q1 2025 earnings at $2.02 EPS, Q2 2025 earnings at $2.12 EPS, Q3 2025 earnings at $2.23 EPS, Q4 2025 earnings at $2.36 EPS and FY2025 earnings at $8.73 EPS.
A number of other equities analysts also recently issued reports on GOOG. JPMorgan Chase & Co. increased their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup increased their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday. Pivotal Research boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity Group increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.
Read Our Latest Analysis on GOOG
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 earnings per share. On average, sell-side analysts expect that Alphabet will post 7.64 EPS for the current year.
Alphabet Announces Dividend
The company also recently announced 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. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 12.27%.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 12.99% of the company’s stock.
Hedge Funds Weigh In On Alphabet
Large investors have recently bought and sold shares of the stock. Concurrent Investment Advisors LLC increased its holdings in shares of Alphabet by 6.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 106,768 shares of the information services provider’s stock worth $17,851,000 after buying an additional 6,529 shares during the last quarter. Gordian Advisors LLC grew its position in Alphabet by 8.1% during the third quarter. Gordian Advisors LLC now owns 1,479 shares of the information services provider’s stock valued at $247,000 after acquiring an additional 111 shares during the period. Family Asset Management LLC increased its stake in Alphabet by 1.8% during the third quarter. Family Asset Management LLC now owns 5,282 shares of the information services provider’s stock worth $883,000 after acquiring an additional 92 shares during the last quarter. RTD Financial Advisors Inc. raised its holdings in shares of Alphabet by 7.2% in the 3rd quarter. RTD Financial Advisors Inc. now owns 4,266 shares of the information services provider’s stock worth $713,000 after purchasing an additional 286 shares during the period. Finally, Maia Wealth LLC grew its holdings in shares of Alphabet by 30.4% during the 3rd quarter. Maia Wealth LLC now owns 5,416 shares of the information services provider’s stock worth $891,000 after purchasing an additional 1,264 shares during the period. Hedge funds and other institutional investors 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.
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