Zacks Research Weighs in on Alphabet Inc.’s FY2024 Earnings (NASDAQ:GOOGL)

Alphabet Inc. (NASDAQ:GOOGL) – Equities research analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for Alphabet in a report issued on Tuesday, August 13th. Zacks Research analyst S. Mete now forecasts that the information services provider will earn $7.55 per share for the year, up from their previous forecast of $7.30. The consensus estimate for Alphabet’s current full-year earnings is $7.62 per share. Zacks Research also issued estimates for Alphabet’s Q2 2025 earnings at $2.06 EPS, FY2025 earnings at $8.49 EPS, Q2 2026 earnings at $2.39 EPS and FY2026 earnings at $9.99 EPS.

Alphabet (NASDAQ:GOOGL) last issued 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the business earned $1.44 EPS.

A number of other brokerages have also recently weighed in on GOOGL. Tigress Financial upped their price target on shares of Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 24th. TD Securities increased their target price on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Robert W. Baird boosted their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Wedbush reiterated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Monday, July 22nd. Finally, Citigroup upped their target price on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.74.

Alphabet Trading Up 0.8 %

Shares of Alphabet stock traded up $1.21 during trading hours on Friday, hitting $162.51. The company’s stock had a trading volume of 2,987,320 shares, compared to its average volume of 28,080,926. The business has a fifty day moving average of $176.01 and a 200 day moving average of $162.21. Alphabet has a 1-year low of $120.21 and a 1-year high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.01 trillion, a PE ratio of 24.74, a P/E/G ratio of 1.28 and a beta of 1.05.

Alphabet Dividend Announcement

The business 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,108 shares of company stock valued at $17,365,854. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the stock. MorganRosel Wealth Management LLC increased its position in Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after acquiring an additional 57 shares during the period. Hengehold Capital Management LLC increased its holdings in shares of Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares during the period. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Joseph P. Lucia & Associates LLC lifted its position in shares of Alphabet by 1.0% during the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after acquiring an additional 64 shares during the period. Finally, Sunflower Bank N.A. lifted its position in Alphabet by 1.0% during the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after purchasing an additional 65 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.