Alphabet (NASDAQ:GOOG) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Alphabet (NASDAQ:GOOG) released its quarterly earnings results on Tuesday. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04, Briefing.com reports. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the prior year, the company posted $1.44 earnings per share. Alphabet’s revenue was up 13.6% compared to the same quarter last year.

Alphabet Price Performance

Shares of GOOG stock traded down $0.17 on Friday, reaching $168.99. The company had a trading volume of 19,860,689 shares, compared to its average volume of 20,622,973. The stock has a market capitalization of $2.09 trillion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a quick ratio of 2.15, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet has a one year low of $121.46 and a one year high of $193.31. The business’s 50-day moving average is $180.74 and its 200 day moving average is $161.58.

Analysts Set New Price Targets

Several research firms recently commented on GOOG. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Finally, TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $177.50.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,888 shares of company stock valued at $25,699,259. 12.99% of the stock is currently owned by insiders.

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.