Alphabet Inc. (NASDAQ:GOOG - Free Report) - Zacks Research upped their Q2 2024 earnings per share estimates for shares of Alphabet in a report issued on Thursday, May 16th. Zacks Research analyst S. Mete now anticipates that the information services provider will earn $1.75 per share for the quarter, up from their prior forecast of $1.60. The consensus estimate for Alphabet's current full-year earnings is $7.66 per share. Zacks Research also issued estimates for Alphabet's Q3 2024 earnings at $1.71 EPS, Q4 2024 earnings at $1.96 EPS, Q2 2025 earnings at $1.99 EPS, Q3 2025 earnings at $2.02 EPS and Q4 2025 earnings at $2.27 EPS.
Several other equities analysts also recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the stock a "positive" rating in a research report on Wednesday, January 31st. Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, January 24th. Finally, Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the stock an "outperform" rating in a research note on Monday, April 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $165.67.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Price Performance
Shares of NASDAQ GOOG traded up $1.86 during trading hours on Friday, reaching $177.29. 16,535,358 shares of the stock traded hands, compared to its average volume of 22,282,695. The company has a market capitalization of $2.19 trillion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02. The company's 50-day simple moving average is $157.82 and its two-hundred day simple moving average is $146.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet has a 52-week low of $115.83 and a 52-week high of $177.49.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analysts' expectations of $78.75 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The firm's revenue was up 15.4% on a year-over-year basis.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Wahed Invest LLC boosted its holdings in shares of Alphabet by 16.7% in the first quarter. Wahed Invest LLC now owns 99,764 shares of the information services provider's stock worth $15,190,000 after buying an additional 14,271 shares during the last quarter. Rokos Capital Management LLP purchased a new position in shares of Alphabet during the 1st quarter worth $223,223,000. Vima LLC boosted its stake in shares of Alphabet by 178,253.1% during the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider's stock worth $304,691,000 after acquiring an additional 2,000,000 shares during the last quarter. Advisory Resource Group grew its position in shares of Alphabet by 81.3% during the 1st quarter. Advisory Resource Group now owns 9,690 shares of the information services provider's stock valued at $1,475,000 after acquiring an additional 4,346 shares during the period. Finally, Kozak & Associates Inc. raised its holdings in Alphabet by 6.1% in the 1st quarter. Kozak & Associates Inc. now owns 10,008 shares of the information services provider's stock worth $1,524,000 after purchasing an additional 571 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the transaction, the chief executive officer now directly owns 2,258,011 shares of the company's stock, valued at $391,132,665.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the transaction, the chief executive officer now owns 2,258,011 shares in the company, valued at $391,132,665.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company's stock, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,511 shares of company stock valued at $41,234,695. Corporate insiders own 12.99% of the company's stock.
Alphabet Dividend Announcement
The firm also recently announced a -- dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.
About Alphabet
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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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