Analysts Offer Predictions for Alphabet Inc.’s Q3 2024 Earnings (NASDAQ:GOOG)

Alphabet Inc. (NASDAQ:GOOG) – Stock analysts at DA Davidson issued their Q3 2024 EPS estimates for Alphabet in a research report issued to clients and investors on Wednesday, September 11th. DA Davidson analyst G. Luria expects that the information services provider will earn $1.83 per share for the quarter. DA Davidson currently has a “Hold” rating on the stock. The consensus estimate for Alphabet’s current full-year earnings is $7.63 per share. DA Davidson also issued estimates for Alphabet’s FY2024 earnings at $7.62 EPS and FY2025 earnings at $8.68 EPS.

Several other brokerages also recently issued reports on GOOG. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Oppenheimer increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Alphabet Stock Up 2.2 %

Shares of GOOG stock opened at $155.54 on Friday. The firm has a fifty day moving average of $169.73 and a 200-day moving average of $165.83. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The firm’s revenue was up 13.6% compared to the same quarter last year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The disclosure for this sale can be found here. Insiders sold a total of 201,867 shares of company stock worth $34,218,581 over the last quarter. 12.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently bought and sold shares of the business. Twelve Points Wealth Management LLC increased its position in shares of Alphabet by 0.7% during the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after buying an additional 55 shares during the period. PCG Wealth Advisors LLC increased its position in shares of Alphabet by 3.1% in the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after purchasing an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV increased its position in shares of Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after purchasing an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV increased its position in shares of Alphabet by 2.0% in the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after purchasing an additional 58 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its position in shares of Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after purchasing an additional 60 shares during the last quarter. 27.26% of the stock is owned by 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.