Alphabet Inc (NASDAQ:GOOGL) Expected to Announce Quarterly Sales of $32.79 Billion

Wall Street analysts expect Alphabet Inc (NASDAQ:GOOGL) to announce sales of $32.79 billion for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Alphabet’s earnings, with the lowest sales estimate coming in at $32.24 billion and the highest estimate coming in at $33.69 billion. Alphabet reported sales of $27.16 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 20.7%. The firm is scheduled to announce its next earnings results on Thursday, October 24th.

On average, analysts expect that Alphabet will report full year sales of $132.41 billion for the current fiscal year, with estimates ranging from $130.43 billion to $135.06 billion. For the next financial year, analysts anticipate that the company will post sales of $155.66 billion, with estimates ranging from $152.67 billion to $160.03 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Alphabet.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $31.71 billion during the quarter, compared to the consensus estimate of $30.90 billion.

GOOGL has been the subject of a number of research analyst reports. Bank of America reaffirmed a “buy” rating and issued a $1,350.00 target price on shares of Alphabet in a research report on Monday, July 22nd. China Renaissance Securities initiated coverage on shares of Alphabet in a research note on Wednesday, May 29th. They set a “hold” rating and a $1,270.00 price target on the stock. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, July 13th. Raymond James set a $1,360.00 price target on shares of Alphabet and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Susquehanna Bancshares lifted their price target on shares of Alphabet to $1,550.00 in a research note on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $1,371.05.

NASDAQ:GOOGL traded down $0.06 during trading hours on Thursday, reaching $1,191.52. The company had a trading volume of 803,441 shares, compared to its average volume of 1,630,420. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. Alphabet has a 52 week low of $977.66 and a 52 week high of $1,296.97. The firm has a market cap of $832.38 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 1.32 and a beta of 0.97. The firm’s 50 day moving average price is $1,171.19 and its 200-day moving average price is $1,159.68.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Headinvest LLC increased its holdings in Alphabet by 9.4% in the 2nd quarter. Headinvest LLC now owns 994 shares of the information services provider’s stock valued at $1,076,000 after acquiring an additional 85 shares during the last quarter. Colonial Trust Advisors increased its holdings in Alphabet by 0.5% in the 2nd quarter. Colonial Trust Advisors now owns 5,778 shares of the information services provider’s stock valued at $6,256,000 after acquiring an additional 31 shares during the last quarter. Arjuna Capital increased its holdings in Alphabet by 3.4% in the 2nd quarter. Arjuna Capital now owns 5,206 shares of the information services provider’s stock valued at $5,637,000 after acquiring an additional 170 shares during the last quarter. Gamble Jones Investment Counsel increased its holdings in Alphabet by 0.9% in the 2nd quarter. Gamble Jones Investment Counsel now owns 17,650 shares of the information services provider’s stock valued at $19,111,000 after acquiring an additional 165 shares during the last quarter. Finally, Cresset Asset Management LLC increased its holdings in Alphabet by 11.9% in the 2nd quarter. Cresset Asset Management LLC now owns 3,389 shares of the information services provider’s stock valued at $3,670,000 after acquiring an additional 361 shares during the last quarter. Institutional investors own 34.09% of the company’s stock.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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