Alphabet (NASDAQ:GOOG) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Alphabet (NASDAQ:GOOG) announced its earnings results on Tuesday. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04, Briefing.com reports. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period last year, the firm earned $1.44 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis.

Alphabet Price Performance

Shares of NASDAQ GOOG traded down $0.48 during midday trading on Friday, reaching $168.68. 24,820,434 shares of the company were exchanged, compared to its average volume of 20,657,656. The stock’s 50-day moving average price is $180.74 and its 200-day moving average price is $161.58. The stock has a market cap of $2.08 trillion, a P/E ratio of 25.74, a PEG ratio of 1.28 and a beta of 1.05. Alphabet has a one year low of $121.46 and a one year high of $193.31. The company has a quick ratio of 2.15, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on 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 owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on 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 transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,888 shares of company stock valued at $25,699,259. 12.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent research reports. Oppenheimer raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $177.50.

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.