What is KeyCorp’s Forecast for Alphabet FY2028 Earnings?

Alphabet Inc. (NASDAQ:GOOGL) – Equities researchers at KeyCorp boosted their FY2028 earnings per share estimates for Alphabet in a report released on Thursday, July 23rd. KeyCorp analyst J. Patterson now anticipates that the information services provider will earn $17.88 per share for the year, up from their prior forecast of $17.80. KeyCorp has a “Overweight” rating and a $445.00 price objective on the stock. The consensus estimate for Alphabet’s current full-year earnings is $17.59 per share.

GOOGL has been the topic of a number of other reports. Guggenheim reiterated a “buy” rating and issued a $450.00 target price (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Wedbush restated an “outperform” rating and set a $445.00 price target on shares of Alphabet in a report on Thursday. DZ Bank upgraded shares of Alphabet to a “strong-buy” rating in a report on Thursday, July 23rd. Stifel Nicolaus set a $420.00 price target on Alphabet and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. Six analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $419.86.

Alphabet Price Performance

Shares of Alphabet stock opened at $326.56 on Tuesday. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $361.53 and a 200-day simple moving average of $338.98. The stock has a market capitalization of $3.96 trillion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.06 and a beta of 1.24. Alphabet has a 1-year low of $187.82 and a 1-year high of $408.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Wealth LLC increased its holdings in shares of Alphabet by 11.8% in the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock valued at $277,696,000 after purchasing an additional 93,293 shares in the last quarter. PFG Investments LLC lifted its holdings in Alphabet by 2.6% during the 1st quarter. PFG Investments LLC now owns 89,299 shares of the information services provider’s stock worth $25,679,000 after buying an additional 2,269 shares in the last quarter. World Investment Advisors lifted its holdings in Alphabet by 9.2% during the 4th quarter. World Investment Advisors now owns 274,761 shares of the information services provider’s stock worth $86,000,000 after buying an additional 23,107 shares in the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust bought a new position in Alphabet in the 4th quarter valued at $28,902,000. Finally, Private Advisory Group LLC increased its stake in shares of Alphabet by 12.2% in the 4th quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider’s stock valued at $7,736,000 after buying an additional 2,678 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director owned 1,481 shares in the company, valued at approximately $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 159,415 shares of company stock worth $7,672,279. 11.61% of the stock is currently owned by company insiders.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is 4.42%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Wall Street analysts continue to support Alphabet’s AI strategy, with several firms maintaining bullish ratings despite trimming price targets to reflect heavier capital expenditures. Investors appear to view the pullback as a buying opportunity. GOOG stock rebounds as Wall Street continues to back AI strategy despite PT cuts
• Positive Sentiment: Alphabet’s second-quarter performance exceeded expectations, including $119.8 billion in revenue and $9.11 in adjusted earnings per share versus consensus of $117.07 billion and $2.89, respectively. Search demand and Google Cloud growth remain key areas of momentum.
• Positive Sentiment: Reports suggest Alphabet’s biggest AI concern—whether its investments can generate meaningful demand and returns—may be easing. Cloud growth, enterprise adoption and early AI monetization support the case for continued investment. Forget AI Capex Concerns – Buy Alphabet After Excellent Q2 Earnings
• Positive Sentiment: YouTube reached a multiyear agreement to include NBCUniversal’s Peacock content in YouTube Premium subscriptions, potentially strengthening the platform’s entertainment offering and subscriber value beginning in 2027. NBCUniversal and YouTube ink deal to embed Peacock
• Neutral Sentiment: Analysts and investors remain divided over Alphabet’s raised 2026 capital-spending forecast of approximately $195 billion to $205 billion. The spending should support AI data centers, Cloud capacity and future growth, but returns will depend on sustained demand.
• Negative Sentiment: Alphabet reportedly spent about $44.9 billion on AI-related investment during the quarter, producing negative free cash flow for the first time as a public company. The deterioration has intensified concerns about spending discipline and the risk that AI returns take longer than expected. Google spent $490 million a day on AI
• Negative Sentiment: Broader technology stocks are not being rewarded for strong earnings, suggesting investors are scrutinizing valuations, capital intensity and future cash flow more closely. This limits the potential upside from Alphabet’s earnings beat.
• Negative Sentiment: A reported privacy issue involving publicly searchable Claude conversations and user-created files on Google search could create reputational or regulatory concerns, although the incident primarily involves Anthropic’s sharing controls. Claude shared chats and Artifacts found on Google

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.