Analysts Issue Forecasts for Alphabet Inc.’s Q3 2024 Earnings (NASDAQ:GOOGL)

Alphabet Inc. (NASDAQ:GOOGL) – Equities research analysts at William Blair cut their Q3 2024 earnings estimates for shares of Alphabet in a note issued to investors on Tuesday, July 23rd. William Blair analyst R. Schackart now expects that the information services provider will post earnings of $1.85 per share for the quarter, down from their previous forecast of $1.96. The consensus estimate for Alphabet’s current full-year earnings is $7.63 per share. William Blair also issued estimates for Alphabet’s Q4 2024 earnings at $2.01 EPS, FY2024 earnings at $7.63 EPS and FY2025 earnings at $8.37 EPS.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the company earned $1.44 earnings per share.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird upped their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research report on Wednesday. Roth Mkm boosted their price objective on shares of Alphabet from $202.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday. Guggenheim boosted their price objective on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Evercore ISI upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 11th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Alphabet Stock Down 0.2 %

Alphabet stock opened at $167.00 on Friday. The stock has a market capitalization of $2.06 trillion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05. Alphabet has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a quick ratio of 2.15, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $179.04 and a 200-day moving average of $160.48.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $168.08, for a total transaction of $252,120.00. Following the sale, the director now directly owns 4,391 shares in the company, valued at $738,039.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,388 shares of company stock worth $21,497,609. Corporate insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MorganRosel Wealth Management LLC increased its stake in Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after acquiring an additional 57 shares during the last quarter. Hengehold Capital Management LLC grew its stake in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after buying an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Joseph P. Lucia & Associates LLC grew its stake in shares of Alphabet by 1.0% in the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after buying an additional 64 shares in the last quarter. Finally, Sunflower Bank N.A. grew its stake in shares of Alphabet by 1.0% in the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after buying an additional 65 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

About Alphabet

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.