Q3 2024 Earnings Forecast for Alphabet Inc. (NASDAQ:GOOGL) Issued By Seaport Res Ptn

Alphabet Inc. (NASDAQ:GOOGL) – Seaport Res Ptn lifted their Q3 2024 earnings estimates for Alphabet in a note issued to investors on Tuesday, July 23rd. Seaport Res Ptn analyst A. Kessler now forecasts that the information services provider will post earnings per share of $1.90 for the quarter, up from their prior estimate of $1.81. The consensus estimate for Alphabet’s current full-year earnings is $7.65 per share. Seaport Res Ptn also issued estimates for Alphabet’s Q4 2024 earnings at $2.02 EPS, FY2024 earnings at $7.70 EPS and FY2025 earnings at $8.34 EPS.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the firm posted $1.44 earnings per share.

Other equities analysts have also issued reports about the stock. Argus lifted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Susquehanna lifted their price objective on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research report on Monday, April 29th. Mizuho lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday. Tigress Financial lifted their price objective on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, May 24th. Finally, Truist Financial lifted their price objective on shares of Alphabet from $190.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $203.74.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $167.00 on Thursday. The firm’s fifty day moving average price is $179.04 and its 200 day moving average price is $160.35. Alphabet has a 1-year low of $120.21 and a 1-year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.15. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05.

Alphabet Announces Dividend

The company also recently announced 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. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the transaction, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,388 shares of company stock valued at $21,497,609. 11.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. RWQ Financial Management Services Inc. grew its holdings in shares of Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the period. Picton Mahoney Asset Management grew its holdings in shares of Alphabet by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after purchasing an additional 76,410 shares during the period. Robbins Farley grew its holdings in shares of Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after purchasing an additional 118 shares during the period. Nebula Research & Development LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $787,000. Finally, CKW Financial Group grew its holdings in shares of Alphabet by 5.8% during the 1st quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock worth $2,150,000 after purchasing an additional 760 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.