FY2024 Earnings Estimate for Alphabet Issued By Roth Capital

Alphabet Inc. (NASDAQ:GOOG) – Investment analysts at Roth Capital lowered their FY2024 earnings per share estimates for shares of Alphabet in a research report issued to clients and investors on Tuesday, January 21st. Roth Capital analyst R. Kulkarni now forecasts that the information services provider will post earnings per share of $8.31 for the year, down from their prior forecast of $8.33. The consensus estimate for Alphabet’s current full-year earnings is $8.03 per share. Roth Capital also issued estimates for Alphabet’s Q4 2024 earnings at $2.42 EPS.

A number of other equities research analysts also recently commented on GOOG. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Six 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 stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Trading Up 0.2 %

Shares of Alphabet stock opened at $200.03 on Thursday. The firm has a market cap of $2.45 trillion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. Alphabet has a 52-week low of $131.55 and a 52-week high of $203.84. The company’s 50-day simple moving average is $186.95 and its 200-day simple moving average is $175.06. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its earnings results 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 return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Harrell Investment Partners LLC increased its position in shares of Alphabet by 0.9% in the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after purchasing an additional 53 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after buying an additional 54 shares during the last quarter. Investment Advisory Group LLC raised its stake in Alphabet by 0.7% during the fourth quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock valued at $1,463,000 after buying an additional 56 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its position in shares of Alphabet by 4.6% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 1,275 shares of the information services provider’s stock worth $243,000 after acquiring an additional 56 shares in the last quarter. Finally, Sunburst Financial Group LLC raised its position in shares of Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 133,387 shares of company stock worth $24,368,654. Corporate insiders own 12.99% of the company’s stock.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

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.