Q2 2024 Earnings Forecast for Alphabet Inc. (NASDAQ:GOOGL) Issued By Seaport Res Ptn

Alphabet Inc. (NASDAQ:GOOGL) – Investment analysts at Seaport Res Ptn lifted their Q2 2024 earnings per share (EPS) estimates for Alphabet in a research note issued on Thursday, April 25th. Seaport Res Ptn analyst A. Kessler now forecasts that the information services provider will post earnings per share of $1.82 for the quarter, up from their prior forecast of $1.70. The consensus estimate for Alphabet’s current full-year earnings is $6.82 per share. Seaport Res Ptn also issued estimates for Alphabet’s Q3 2024 earnings at $1.81 EPS and Q4 2024 earnings at $2.00 EPS.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter last year, the business earned $1.17 EPS.

A number of other equities research analysts have also issued reports on GOOGL. Wolfe Research raised their price target on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Robert W. Baird upped their price target on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Truist Financial raised their price target on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Morgan Stanley upped their target price on shares of Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, Jefferies Financial Group increased their price objective on Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $189.74.

Alphabet Stock Down 2.0 %

Shares of NASDAQ GOOGL opened at $162.78 on Monday. Alphabet has a 1 year low of $103.71 and a 1 year high of $174.71. The firm has a 50-day simple moving average of $148.80 and a two-hundred day simple moving average of $141.79. The company has a market cap of $2.02 trillion, a P/E ratio of 24.97, a PEG ratio of 1.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, June 10th.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 2,100 shares of the firm’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 transaction of $369,096.00. Following 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. In the last quarter, insiders have sold 253,289 shares of company stock valued at $36,724,534. Insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently made changes to their positions in the business. J.W. Cole Advisors Inc. boosted its stake in shares of Alphabet by 0.3% in the first quarter. J.W. Cole Advisors Inc. now owns 71,073 shares of the information services provider’s stock worth $10,775,000 after buying an additional 243 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its holdings in Alphabet by 2.4% in the first quarter. Cutter & CO Brokerage Inc. now owns 8,664 shares of the information services provider’s stock valued at $1,308,000 after acquiring an additional 200 shares during the period. Granite Harbor Advisors Inc. boosted its position in Alphabet by 4.4% in the 1st quarter. Granite Harbor Advisors Inc. now owns 26,425 shares of the information services provider’s stock worth $3,988,000 after purchasing an additional 1,105 shares in the last quarter. North Star Investment Management Corp. boosted its position in Alphabet by 2.9% in the 1st quarter. North Star Investment Management Corp. now owns 75,099 shares of the information services provider’s stock worth $11,335,000 after purchasing an additional 2,102 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. grew its stake in shares of Alphabet by 1.1% during the 1st quarter. Ables Iannone Moore & Associates Inc. now owns 62,534 shares of the information services provider’s stock worth $9,436,000 after purchasing an additional 655 shares during the period. Institutional investors and hedge funds 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.