Alphabet (GOOGL) Projected to Post Quarterly Earnings on Wednesday

Key Points

• Alphabet is projected to announce its earnings on Wednesday, October 29th, with expectations of $2.29 per share in earnings and approximately $99.9 billion in revenue.
• The company's stock has a market capitalization of $3.03 trillion and recent analyst reports have raised price targets, with some now expecting a target as high as $295.00.
• Insider trading activity indicates a notable 13.84% decrease in ownership for the CAO after selling shares at an average price of $245.00 in mid-September.

Alphabet (NASDAQ:GOOGL - Get Free Report) is expected to issue its results after the market closes on Wednesday, October 29th. Analysts expect the company to announce earnings of $2.29 per share and revenue of $99.9013 billion for the quarter.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. On average, analysts expect Alphabet to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Alphabet Price Performance

Alphabet stock opened at $250.46 on Wednesday. Alphabet has a 12-month low of $140.53 and a 12-month high of $257.33. The stock has a market cap of $3.03 trillion, a P/E ratio of 26.67, a PEG ratio of 1.74 and a beta of 1.00. The company has a 50-day moving average price of $233.60 and a 200 day moving average price of $193.31. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. Moffett Nathanson raised their price objective on shares of Alphabet from $230.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Mizuho set a $295.00 price target on shares of Alphabet and gave the company an "outperform" rating in a research report on Monday, September 29th. Royal Bank Of Canada lifted their price target on shares of Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. Guggenheim reiterated a "buy" rating and set a $280.00 price target (up from $210.00) on shares of Alphabet in a research report on Friday. Finally, Stifel Nicolaus lifted their price target on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $257.60.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 246,150 shares of company stock valued at $55,805,379. 11.55% of the stock is currently owned by company insiders.

Institutional Trading of Alphabet

Institutional investors have recently modified their holdings of the stock. Parkworth Wealth Management Inc. lifted its position in shares of Alphabet by 41.2% during the 2nd quarter. Parkworth Wealth Management Inc. now owns 552 shares of the information services provider's stock worth $97,000 after buying an additional 161 shares during the last quarter. Sagard Holdings Management Inc. purchased a new stake in shares of Alphabet during the 2nd quarter worth approximately $99,000. Luminist Capital LLC lifted its position in shares of Alphabet by 14.1% during the 2nd quarter. Luminist Capital LLC now owns 639 shares of the information services provider's stock worth $112,000 after buying an additional 79 shares during the last quarter. Chapman Financial Group LLC purchased a new stake in shares of Alphabet during the 2nd quarter worth approximately $145,000. Finally, Moore Capital Management LP lifted its position in shares of Alphabet by 110.3% during the 2nd quarter. Moore Capital Management LP now owns 1,000 shares of the information services provider's stock worth $167,000 after buying an additional 10,736 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

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.

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