Alphabet (NASDAQ:GOOG) Issues Quarterly Earnings Results

Alphabet (NASDAQ:GOOGGet Free Report) posted its earnings results on Wednesday. The information services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23, FiscalAI reports. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm had revenue of $113.83 billion during the quarter, compared to the consensus estimate of $111.24 billion.

Alphabet Stock Performance

Shares of Alphabet stock traded down $7.36 during trading on Wednesday, hitting $333.34. 32,666,421 shares of the company’s stock were exchanged, compared to its average volume of 21,350,250. The stock has a market capitalization of $4.02 trillion, a price-to-earnings ratio of 32.87, a PEG ratio of 2.08 and a beta of 1.10. The business has a 50-day simple moving average of $321.78 and a 200-day simple moving average of $269.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet has a 52-week low of $142.66 and a 52-week high of $350.15.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $312.30, for a total transaction of $867,569.40. Following the transaction, the chief accounting officer owned 8,962 shares in the company, valued at $2,798,832.60. This trade represents a 23.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the transaction, the chief executive officer owned 2,304,619 shares of the company’s stock, valued at $683,642,180.16. This represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,037,964 shares of company stock valued at $95,259,727 in the last quarter. Company insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Imprint Wealth LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $31,000. Wealth Watch Advisors INC acquired a new stake in shares of Alphabet in the third quarter valued at $88,000. Measured Wealth Private Client Group LLC purchased a new position in Alphabet in the third quarter worth approximately $131,000. Parvin Asset Management LLC grew its holdings in Alphabet by 35.3% during the 3rd quarter. Parvin Asset Management LLC now owns 663 shares of the information services provider’s stock worth $161,000 after acquiring an additional 173 shares in the last quarter. Finally, Wiser Advisor Group LLC purchased a new position in Alphabet in the third quarter valued at $196,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Jefferies Financial Group reissued a “buy” rating and issued a $365.00 price objective on shares of Alphabet in a research note on Monday, January 5th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Mizuho set a $325.00 price target on Alphabet in a research report on Thursday, October 30th. Finally, Barclays lifted their price objective on shares of Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Eight analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $330.83.

Check Out Our Latest Research Report on Alphabet

Alphabet Company Profile

(Get Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Earnings History for Alphabet (NASDAQ:GOOG)

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