FY2024 Earnings Forecast for Alphabet Issued By Roth Capital

Alphabet Inc. (NASDAQ:GOOGL - Free Report) - Roth Capital cut their FY2024 earnings estimates for Alphabet in a research report issued on Tuesday, January 21st. Roth Capital analyst R. Kulkarni now anticipates that the information services provider will post earnings of $8.31 per share for the year, down from their previous forecast of $8.33. The consensus estimate for Alphabet's current full-year earnings is $8.03 per share. Roth Capital also issued estimates for Alphabet's Q4 2024 earnings at $2.42 EPS.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the company posted $1.55 EPS.

Several other research firms have also issued reports on GOOGL. Needham & Company LLC restated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Wolfe Research upped their price target on Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. The Goldman Sachs Group reissued a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research report on Friday, January 10th. Finally, Cantor Fitzgerald lowered their price target on shares of Alphabet from $215.00 to $210.00 and set a "neutral" rating on the stock in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.67.

Alphabet Trading Down 0.6 %

Shares of NASDAQ:GOOGL traded down $1.13 during midday trading on Thursday, reaching $197.24. The company had a trading volume of 16,377,955 shares, compared to its average volume of 23,220,998. The company has a fifty day simple moving average of $185.46 and a two-hundred day simple moving average of $173.55. Alphabet has a 1-year low of $130.66 and a 1-year high of $202.29. 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 firm has a market cap of $2.41 trillion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98.

Institutional Investors Weigh In On Alphabet

Several large investors have recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider's stock valued at $31,086,250,000 after purchasing an additional 18,700,111 shares during the period. SG Americas Securities LLC increased its position in shares of Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider's stock worth $1,772,991,000 after acquiring an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider's stock worth $1,437,957,000 after acquiring an additional 4,662,809 shares during the period. JPMorgan Chase & Co. boosted its stake in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. Finally, Wulff Hansen & CO. increased its holdings in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider's stock worth $807,700,000 after purchasing an additional 4,410,811 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O'toole sold 2,834 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the business's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 over the last 90 days. 11.55% of the stock is owned by company insiders.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet's dividend payout ratio is currently 10.61%.

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.