Q3 2024 EPS Estimates for Alphabet Inc. (NASDAQ:GOOGL) Decreased by Analyst

Alphabet Inc. (NASDAQ:GOOGL) – Investment analysts at Roth Capital dropped their Q3 2024 earnings estimates for shares of Alphabet in a report released on Tuesday, July 23rd. Roth Capital analyst R. Kulkarni now expects that the information services provider will post earnings of $1.96 per share for the quarter, down from their previous forecast of $1.99. The consensus estimate for Alphabet’s current full-year earnings is $7.63 per share. Roth Capital also issued estimates for Alphabet’s Q4 2024 earnings at $2.24 EPS and FY2024 earnings at $7.98 EPS.

A number of other equities analysts have also recently issued reports on GOOGL. Piper Sandler upped their price objective on shares of Alphabet from $200.00 to $206.00 and gave the stock an “overweight” rating in a research report on Wednesday. Argus boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Truist Financial boosted their target price on shares of Alphabet from $190.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. Finally, Sanford C. Bernstein boosted their target price on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $167.00 on Friday. The firm has a 50 day moving average of $179.04 and a 200-day moving average of $160.48. The stock has a market capitalization of $2.06 trillion, a PE ratio of 25.61, a PEG ratio of 1.25 and a beta of 1.05. Alphabet has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.15 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the company earned $1.44 EPS.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on 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 directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,388 shares of company stock valued at $21,497,609. Corporate insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter worth $15,441,917,000. Capital Research Global Investors increased its holdings in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Vanguard Group Inc. increased its holdings in shares of Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado increased its stake in Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after acquiring an additional 6,010,548 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after acquiring an additional 5,336,359 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

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.