February 5, 2023

Alphabet (NASDAQ:GOOG – Get Rating) will release its quarterly earnings data after the market close on Thursday, February 2nd. Analysts expect the company to report earnings of $1.17 per share for the quarter. Those interested in participating in the company’s conference call can do so via this link.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings results on Tuesday, October 25th. The information service provider reported earnings per share (EPS) of $1.06 for the quarter, falling short of analyst consensus estimates of $1.25 ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The company had revenue of $69.09 billion in the quarter, compared to analyst estimates of $70.67 billion. In the same quarter last year, the company earned $1.40 per share. The company’s revenue increased 6.1% compared to the prior-year quarter. On average, analysts expect Alphabet to report earnings per share of $5 for the current fiscal year and $5 for the next fiscal year.

Alphabet is down 2.5%

Alphabet shares opened at $96.73 on Thursday. Alphabet has a 52-week low of $83.45 and a 52-week high of $152.10. The company has a gearing ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The company has a market cap of $1.25 trillion, a price-to-earnings ratio of 19.21, a P/E ratio of 1.78 and a beta of 1.08. The company has a 50-day moving average price of $93.58 and a 200-day moving average price of $101.87.

Analyst upgrades and downgrades

Several analysts recently commented on the company. Raymond James cut his price target on Alphabet from $120.00 to $116.00 and gave the company an outperform rating in a research report on Tuesday. Cowen lowered his price target on Alphabet to $125.00 from $135.00 and gave the stock a “Outperform” rating in a research note on Wednesday, January 11. Oppenheimer lowered its price target on Alphabet to $135.00 from $155.00 and gave the stock an outperform rating in a report on Wednesday, October 26. Sanford C. Bernstein issued a price target of $120.00 for Alphabet shares in a report on Thursday, January 12. Finally, Jefferies Financial Group issued a research note on Monday, January 9th with a price target of $125.00 for shares of Alphabet. One analyst has rated the stock with a hold and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $141.10.

Insiders place their bets

In related news, major shareholder 2017 Gp LLC Gv sold 107,393 shares of the company’s shares in a transaction on Monday, October 31. The shares sold at an average price of $38.64 for a total value of $4,149,665.52. The transaction was disclosed in a document filed with the SEC, available at this hyperlink. In related news, major shareholder 2017 Gp LLC Gv sold 107,393 shares of the company’s shares in a transaction on Monday, October 31. The stock sold at an average price of $38.64 for a total transaction of $4,149,665.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed at this link. Also, insider John Kent Walker sold 11,313 shares of the stock in a transaction that took place on Monday, January 23rd. The shares were sold at an average price of $100.00 for a total value of $1,131,300.00. Following the sale, the insider now owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The disclosure for this sale can be found here. In the last 90 days, insiders bought 661,702 shares of the company’s shares for $23,399,217 and sold 201,777 shares for $9,667,035. Company insiders own 12.99% of the company’s shares.

Hedge funds bet on Alphabet

Major investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings of Alphabet stock by 1,807.4% during the third quarter. The Bank of New York Mellon Corp now owns 57,069,444 shares of the information service provider, valued at $5,487,226,000, after purchasing an additional 54,077,519 shares during the period. CIBC Private Wealth Group LLC increased its stake in Alphabet by 1,892.4% in the third quarter. CIBC Private Wealth Group LLC now owns 5,718,430 shares of the information services company valued at $549,828,000 after purchasing an additional 5,431,413 shares last quarter. Baird Financial Group Inc. increased its stake in Alphabet by 1,943.1% in the third quarter. Baird Financial Group Inc. now owns 5,262,096 shares of the information services company valued at $505,951,000 after purchasing an additional 5,004,540 shares last quarter. Retirement Systems of Alabama increased its position in Alphabet stock by 1,865.8% in the third quarter. Retirement Systems of Alabama now owns 2,730,923 shares of the information services company valued at $262,578,000 after purchasing an additional 2,592,001 shares during the period. Finally, Robeco Institutional Asset Management BV increased its holdings in Alphabet shares by 1,891.3% in the third quarter. Robeco Institutional Asset Management BV now owns 2,275,546 shares in the information service provider, valued at $218,793,000, after purchasing a further 2,161,273 shares last quarter. 28.69% of the shares are currently owned by institutional investors and hedge funds.

About Alphabet

(received rating)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia Pacific, Canada and Latin America. It is operated through the Google Services, Google Cloud and Other Bets segments. The Google Services segment provides products and services including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

Further reading

Alphabet (NASDAQ:GOOG) Earnings History

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