What is KeyCorp's Estimate for Alphabet FY2028 Earnings?

Alphabet Inc. (NASDAQ:GOOGL - Free Report) - Investment analysts at KeyCorp lifted their FY2028 earnings estimates for Alphabet in a report released on Thursday, July 23rd. KeyCorp analyst J. Patterson now expects that the information services provider will post earnings per share of $17.88 for the year, up from their previous forecast of $17.80. KeyCorp currently has a "Overweight" rating and a $445.00 price objective on the stock. The consensus estimate for Alphabet's current full-year earnings is $17.59 per share.

GOOGL has been the topic of several other reports. Wolfe Research lowered their price objective on shares of Alphabet from $390.00 to $360.00 and set an "outperform" rating on the stock in a research report on Friday, April 10th. Susquehanna reaffirmed a "positive" rating and issued a $460.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Oppenheimer lifted their price target on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Phillip Securities upgraded Alphabet from a "moderate buy" rating to a "strong-buy" rating in a report on Monday. Finally, Evercore upped their price target on Alphabet from $400.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Buy" and a consensus target price of $419.86.

Alphabet Stock Up 2.1%

Shares of NASDAQ:GOOGL opened at $326.56 on Tuesday. The firm has a 50 day simple moving average of $361.53 and a 200 day simple moving average of $338.98. Alphabet has a 52 week low of $187.82 and a 52 week high of $408.61. 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 PE ratio of 16.40, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion.

Institutional Investors Weigh In On Alphabet

Several large investors have recently made changes to their positions in GOOGL. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock valued at $165,567,398,000 after purchasing an additional 12,531,695 shares in the last quarter. State Street Corp boosted its holdings in Alphabet by 1.8% in the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock worth $40,524,841,000 after purchasing an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Alphabet by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock worth $45,625,595,000 after purchasing an additional 2,666,676 shares in the last quarter. Norges Bank acquired a new position in Alphabet during the fourth quarter worth $30,534,239,000. Finally, Bank of America Corp DE increased its position in Alphabet by 4.9% during the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock worth $21,630,861,000 after buying an additional 3,218,852 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 112 shares of the business's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the transaction, the director owned 18,833 shares in the company, valued at $6,615,656.24. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 8,998 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the transaction, the insider owned 75,290 shares in the company, valued at $26,298,044.10. This trade represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 159,415 shares of company stock valued at $7,672,279. 11.61% of the stock is currently owned by company insiders.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet's dividend payout ratio (DPR) is currently 4.42%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Wall Street analysts continue to support Alphabet’s AI strategy, with several firms maintaining bullish ratings despite trimming price targets to reflect heavier capital expenditures. Investors appear to view the pullback as a buying opportunity. GOOG stock rebounds as Wall Street continues to back AI strategy despite PT cuts
• Positive Sentiment: Alphabet’s second-quarter performance exceeded expectations, including $119.8 billion in revenue and $9.11 in adjusted earnings per share versus consensus of $117.07 billion and $2.89, respectively. Search demand and Google Cloud growth remain key areas of momentum.
• Positive Sentiment: Reports suggest Alphabet’s biggest AI concern—whether its investments can generate meaningful demand and returns—may be easing. Cloud growth, enterprise adoption and early AI monetization support the case for continued investment. Forget AI Capex Concerns - Buy Alphabet After Excellent Q2 Earnings
• Positive Sentiment: YouTube reached a multiyear agreement to include NBCUniversal’s Peacock content in YouTube Premium subscriptions, potentially strengthening the platform’s entertainment offering and subscriber value beginning in 2027. NBCUniversal and YouTube ink deal to embed Peacock
• Neutral Sentiment: Analysts and investors remain divided over Alphabet’s raised 2026 capital-spending forecast of approximately $195 billion to $205 billion. The spending should support AI data centers, Cloud capacity and future growth, but returns will depend on sustained demand.
• Negative Sentiment: Alphabet reportedly spent about $44.9 billion on AI-related investment during the quarter, producing negative free cash flow for the first time as a public company. The deterioration has intensified concerns about spending discipline and the risk that AI returns take longer than expected. Google spent $490 million a day on AI
• Negative Sentiment: Broader technology stocks are not being rewarded for strong earnings, suggesting investors are scrutinizing valuations, capital intensity and future cash flow more closely. This limits the potential upside from Alphabet’s earnings beat.
• Negative Sentiment: A reported privacy issue involving publicly searchable Claude conversations and user-created files on Google search could create reputational or regulatory concerns, although the incident primarily involves Anthropic’s sharing controls. Claude shared chats and Artifacts found on Google

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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