Alphabet Inc. (NASDAQ:GOOGL – Free Report) – William Blair reduced their Q3 2024 earnings estimates for shares of Alphabet in a research report issued to clients and investors on Tuesday, July 23rd. William Blair analyst R. Schackart now forecasts that the information services provider will post earnings per share of $1.85 for the quarter, down from their previous forecast of $1.96. The consensus estimate for Alphabet’s current full-year earnings is $7.63 per share. William Blair also issued estimates for Alphabet’s Q4 2024 earnings at $2.01 EPS, FY2024 earnings at $7.63 EPS and FY2025 earnings at $8.37 EPS.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. 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 $70.60 billion. During the same quarter in the previous year, the company earned $1.44 EPS.
Check Out Our Latest Research Report on GOOGL
Alphabet Stock Down 0.2 %
Shares of GOOGL stock opened at $167.00 on Friday. The stock has a market cap of $2.06 trillion, a P/E ratio of 25.61, a PEG ratio of 1.25 and a beta of 1.05. Alphabet has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a quick ratio of 2.15, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $179.04 and its two-hundred day simple moving average is $160.48.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders 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 yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The disclosure for this sale can be found here. Insiders have sold 122,388 shares of company stock valued at $21,497,609 over the last ninety days. Company insiders own 11.55% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Norges Bank acquired a new position in Alphabet during the 4th quarter worth approximately $15,441,917,000. Capital Research Global Investors grew its holdings in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after acquiring an additional 238,403 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Alphabet by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after acquiring an additional 1,472,043 shares in the last quarter. 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.
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