Alphabet Inc. (NASDAQ:GOOG - Free Report) - KeyCorp increased their FY2028 earnings estimates for shares of Alphabet in a note issued to investors on Thursday, July 23rd. KeyCorp analyst J. Patterson now forecasts that the information services provider will earn $17.88 per share for the year, up from their prior forecast of $17.80. The consensus estimate for Alphabet's current full-year earnings is $17.25 per share.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.87 by $6.24. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. During the same period last year, the business posted $2.31 EPS. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year.
A number of other brokerages have also recently commented on GOOG. Rosenblatt Securities set a $393.00 price objective on Alphabet in a research note on Thursday. Royal Bank Of Canada reaffirmed a "buy" rating and set a $475.00 target price on shares of Alphabet in a research report on Thursday, July 23rd. Citigroup reiterated a "market outperform" rating on shares of Alphabet in a report on Wednesday, July 22nd. Stifel Nicolaus set a $420.00 price target on shares of Alphabet in a research report on Wednesday, May 20th. Finally, Freedom Capital upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of "Buy" and a consensus price target of $410.09.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Stock Up 2.3%
GOOG stock opened at $326.57 on Tuesday. The stock's 50 day simple moving average is $359.30 and its 200 day simple moving average is $337.61. Alphabet has a fifty-two week low of $188.70 and a fifty-two week high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The company has a market cap of $3.96 trillion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 1.08 and a beta of 1.23.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio is 4.42%.
Insider Transactions at Alphabet
In other news, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total value of $39,343.36. Following the transaction, the director directly owned 18,833 shares in the company, valued at approximately $6,615,656.24. The trade was a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 159,415 shares of company stock valued at $7,672,279. Corporate insiders own 12.99% of the company's stock.
Hedge Funds Weigh In On Alphabet
A number of hedge funds have recently bought and sold shares of GOOG. Auto Owners Insurance Co increased its stake in Alphabet by 38,409.2% in the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider's stock valued at $5,643,262,000 after buying an additional 179,369,280 shares during the last quarter. J. Stern & Co. LLP boosted its stake in shares of Alphabet by 28,482.8% in the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock worth $35,174,429,000 after buying an additional 111,699,704 shares during the last quarter. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter worth approximately $18,093,665,000. Cardano Risk Management B.V. grew its holdings in shares of Alphabet by 850.3% in the fourth quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider's stock valued at $5,551,938,000 after acquiring an additional 15,830,754 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock valued at $132,114,125,000 after acquiring an additional 8,128,234 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet reported a strong second quarter, with revenue up 24% year over year to $119.8 billion and earnings of $9.11 per share, well above estimates. Google Cloud growth, reported at approximately 82%, and continued strength in Search and YouTube reinforced the company’s AI monetization story. Alphabet Stock Is Gaining Monday: What's Going On?
- Positive Sentiment: Analysts and portfolio managers largely continue to support Alphabet’s long-term outlook. Bullish arguments point to enterprise AI adoption, a roughly $514 billion Cloud backlog, improving Cloud margins and early evidence that AI features can strengthen Search and other services. Berkshire Hathaway’s substantial Alphabet position also provides a notable vote of confidence. Alphabet Q2 Strength Reinforces the Bullish Case
- Positive Sentiment: YouTube reached a multiyear agreement with NBCUniversal to include Peacock content for U.S. YouTube Premium subscribers beginning in 2027. The deal could improve subscription value, engagement and YouTube’s competitive position in streaming. NBCUniversal and YouTube Ink Peacock Deal
About Alphabet
(
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Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.
Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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