FY2024 Earnings Forecast for Alphabet Issued By Roth Capital

Alphabet Inc. (NASDAQ:GOOGL - Free Report) - Equities research analysts at Roth Capital decreased their FY2024 earnings per share estimates for Alphabet in a research report issued to clients and investors on Tuesday, January 21st. Roth Capital analyst R. Kulkarni now expects that the information services provider will post earnings of $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 $8.02 per share. Roth Capital also issued estimates for Alphabet's Q4 2024 earnings at $2.42 EPS.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for 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 firm earned $1.55 EPS.

A number of other research firms have also recently weighed in on GOOGL. Wolfe Research raised their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reiterated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Evercore ISI boosted their target price on Alphabet from $200.00 to $205.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Finally, Scotiabank upgraded Alphabet to a "strong-buy" rating in a research note on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.44.

Alphabet Stock Up 1.1 %

GOOGL stock traded up $2.23 during trading on Thursday, reaching $200.21. 23,752,861 shares of the company traded hands, compared to its average volume of 23,631,205. The company has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business has a 50 day simple moving average of $185.91 and a 200 day simple moving average of $173.72. Alphabet has a 12 month low of $130.66 and a 12 month high of $202.29.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid 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 yield of 0.40%. Alphabet's dividend payout ratio (DPR) is currently 10.61%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O'toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company's stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the sale, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock valued at $24,368,654 over the last quarter. 11.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GOOGL. Schear Investment Advisers LLC grew its position in Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider's stock worth $5,598,000 after acquiring an additional 4,905 shares during the period. Trinity Financial Advisors LLC lifted its position in Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider's stock valued at $771,000 after buying an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. boosted its stake in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider's stock worth $4,192,000 after buying an additional 5,516 shares during the period. abrdn plc increased its position in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider's stock valued at $1,037,196,000 after acquiring an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. raised its stake in shares of Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider's stock valued at $3,567,000 after acquiring an additional 140 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.