Alphabet (GOOG) Set to Announce Quarterly Earnings on Thursday

Alphabet (NASDAQ:GOOG) will be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.49 per share for the quarter.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the company earned $1.05 earnings per share. On average, analysts expect Alphabet to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Alphabet Stock Up 0.4 %

GOOG stock traded up $0.68 during mid-day trading on Thursday, reaching $157.56. The company had a trading volume of 5,252,670 shares, compared to its average volume of 22,109,719. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a 50 day simple moving average of $147.15 and a two-hundred day simple moving average of $141.61. The company has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.44 and a beta of 1.05. Alphabet has a 52 week low of $103.27 and a 52 week high of $161.70.

Insider Activity

In other news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 over the last three months. Insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Several hedge funds have recently added to or reduced their stakes in GOOG. Moneta Group Investment Advisors LLC lifted its holdings in Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after purchasing an additional 129,835,437 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Alphabet by 1,807.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock worth $5,487,226,000 after purchasing an additional 54,077,519 shares during the last quarter. Norges Bank acquired a new stake in Alphabet during the 4th quarter worth approximately $3,059,614,000. Morgan Stanley lifted its holdings in Alphabet by 37.6% during the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after purchasing an additional 19,612,974 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Alphabet by 24.2% during the 4th quarter. Legal & General Group Plc now owns 42,628,307 shares of the information services provider’s stock worth $6,007,614,000 after purchasing an additional 8,314,670 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of analyst reports. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Raymond James raised their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday. Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer raised their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $159.86.

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.