Alphabet (NASDAQ:GOOG) Posts Earnings Results, Beats Estimates By $0.29 EPS

Alphabet (NASDAQ:GOOG) announced its quarterly earnings results on Tuesday. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29, Briefing.com reports. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.55 EPS.

Alphabet Trading Down 2.0 %

Shares of Alphabet stock traded down $3.45 during mid-day trading on Thursday, hitting $172.69. 32,741,526 shares of the stock were exchanged, compared to its average volume of 19,705,709. Alphabet has a twelve month low of $123.93 and a twelve month high of $193.31. The stock has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The company has a 50-day simple moving average of $163.56 and a 200 day simple moving average of $170.30. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock valued at $35,993,340 in the last ninety days. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of research analyst reports. Scotiabank initiated coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Jefferies Financial Group increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday. Canaccord Genuity Group increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $200.56.

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.