Alphabet Inc. (NASDAQ:GOOG) Expected to Post Q2 2024 Earnings of $1.82 Per Share

Alphabet Inc. (NASDAQ:GOOG) – Stock analysts at Seaport Res Ptn upped their Q2 2024 earnings per share (EPS) estimates for Alphabet in a research note issued to investors on Thursday, April 25th. Seaport Res Ptn analyst A. Kessler now anticipates that the information services provider will post earnings per share of $1.82 for the quarter, up from their previous estimate of $1.70. The consensus estimate for Alphabet’s current full-year earnings is $6.80 per share. Seaport Res Ptn also issued estimates for Alphabet’s Q3 2024 earnings at $1.81 EPS and Q4 2024 earnings at $2.00 EPS.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the company earned $1.17 EPS. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year.

Several other research firms have also recently commented on GOOG. Raymond James boosted their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Oppenheimer upped their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus price target of $165.67.

Alphabet Stock Down 1.9 %

GOOG stock opened at $164.64 on Monday. Alphabet has a fifty-two week low of $104.50 and a fifty-two week high of $176.42. The company’s 50 day moving average price is $150.09 and its 200 day moving average price is $143.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The firm has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.59 and a beta of 1.05.

Alphabet Announces Dividend

The company also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction on Friday, April 26th. The shares were 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 owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 253,289 shares of company stock worth $36,724,534. Corporate insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several institutional investors have recently added to or reduced their stakes in GOOG. J.W. Cole Advisors Inc. increased its holdings in shares of Alphabet by 1.0% in the first quarter. J.W. Cole Advisors Inc. now owns 94,298 shares of the information services provider’s stock valued at $14,409,000 after purchasing an additional 925 shares during the period. Vantage Investment Partners LLC increased its stake in Alphabet by 29.3% in the 1st quarter. Vantage Investment Partners LLC now owns 359,685 shares of the information services provider’s stock valued at $54,760,000 after buying an additional 81,591 shares during the period. Hartline Investment Corp lifted its stake in shares of Alphabet by 61.9% in the 1st quarter. Hartline Investment Corp now owns 14,445 shares of the information services provider’s stock worth $2,199,000 after acquiring an additional 5,525 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Alphabet by 0.5% in the first quarter. North Star Investment Management Corp. now owns 32,122 shares of the information services provider’s stock valued at $4,891,000 after acquiring an additional 147 shares in the last quarter. Finally, Norden Group LLC acquired a new position in shares of Alphabet during the first quarter worth about $5,934,000. 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.