FY2024 Earnings Forecast for Alphabet Issued By Roth Capital

Alphabet Inc. (NASDAQ:GOOGL) – Equities research analysts at Roth Capital decreased their FY2024 earnings per share estimates for shares of Alphabet in a research report issued to clients and investors on Tuesday, January 21st. Roth Capital analyst R. Kulkarni now forecasts that the information services provider will earn $8.31 per share for the year, down from their prior estimate of $8.33. The consensus estimate for Alphabet’s current full-year earnings is $8.03 per share. Roth Capital also issued estimates for Alphabet’s Q4 2024 earnings at $2.42 EPS.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the company earned $1.55 EPS.

A number of other equities research analysts have also recently weighed in on GOOGL. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Bank of America restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Sanford C. Bernstein lifted their price target on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.67.

Alphabet Trading Up 0.2 %

NASDAQ GOOGL opened at $198.37 on Thursday. Alphabet has a 12 month low of $130.66 and a 12 month high of $202.29. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $185.46 and a 200-day moving average of $173.55. The company has a market cap of $2.43 trillion, a PE ratio of 26.31, a PEG ratio of 1.27 and a beta of 0.98.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet’s dividend payout ratio is 10.61%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock valued at $24,368,654 over the last ninety days. 11.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphabet

Several hedge funds have recently modified their holdings of GOOGL. LMR Partners LLP purchased a new stake in Alphabet during the third quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the period. Denver PWM LLC increased its stake in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $53,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Alphabet in the third quarter valued at approximately $66,000. Institutional investors own 40.03% 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.