Alphabet (NASDAQ:GOOG) Issues Quarterly Earnings Results

Alphabet (NASDAQ:GOOG) posted its earnings results on Tuesday. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04, Briefing.com reports. Alphabet had a return on equity of 30.96% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded down $5.21 during trading on Thursday, hitting $169.16. The stock had a trading volume of 28,932,168 shares, compared to its average volume of 20,625,363. The stock has a 50-day simple moving average of $180.86 and a two-hundred day simple moving average of $161.53. The stock has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 1.36 and a beta of 1.05. Alphabet has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOG. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer lifted their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $177.50.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The disclosure for this sale can be found here. Insiders have sold a total of 146,988 shares of company stock worth $26,068,355 over the last quarter. Insiders own 12.99% of the company’s stock.

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.