Alphabet (GOOG) Set to Announce Quarterly Earnings on Tuesday

Alphabet (NASDAQ:GOOG) will issue its quarterly earnings data after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.49 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. Alphabet’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 earnings per share. On average, analysts expect Alphabet to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Alphabet Stock Performance

Shares of GOOG stock opened at $155.72 on Monday. The company has a market capitalization of $1.94 trillion, a P/E ratio of 26.85, a P/E/G ratio of 1.44 and a beta of 1.05. The business’s 50 day moving average is $147.46 and its two-hundred day moving average is $141.97. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet has a 12-month low of $103.27 and a 12-month high of $161.70.

Analyst Ratings Changes

GOOG has been the topic of a number of recent analyst reports. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna raised their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $159.86.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,339 shares of company stock valued at $36,377,482. 12.99% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alphabet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC boosted its position in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the period. Bank of New York Mellon Corp boosted its holdings in Alphabet by 1,807.4% in the third quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after purchasing an additional 54,077,519 shares during the period. Norges Bank purchased a new position in Alphabet in the fourth quarter valued at $3,059,614,000. Morgan Stanley boosted its holdings in Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after purchasing an additional 19,612,974 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Alphabet by 24.2% in the fourth quarter. Legal & General Group Plc now owns 42,628,307 shares of the information services provider’s stock valued at $6,007,614,000 after purchasing an additional 8,314,670 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

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.