Seaport Res Ptn Equities Analysts Increase Earnings Estimates for Alphabet Inc. (NASDAQ:GOOG)

Alphabet Inc. (NASDAQ:GOOG) – Analysts at Seaport Res Ptn lifted their Q2 2024 earnings estimates for shares of Alphabet in a research note issued on Thursday, April 25th. Seaport Res Ptn analyst A. Kessler now forecasts that the information services provider will post earnings per share of $1.82 for the quarter, up from their prior forecast of $1.70. The consensus estimate for Alphabet’s current full-year earnings is $6.80 per share. Seaport Res Ptn also issued estimates for Alphabet’s Q3 2024 earnings at $1.81 EPS and Q4 2024 earnings at $2.00 EPS.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period last year, the firm posted $1.17 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis.

Several other research firms also recently weighed in on GOOG. Susquehanna raised their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer lifted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Raymond James lifted their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $165.67.

Alphabet Stock Performance

NASDAQ:GOOG opened at $167.90 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $149.64 and a two-hundred day moving average price of $142.97. Alphabet has a twelve month low of $104.50 and a twelve month high of $176.42. The company has a market capitalization of $2.09 trillion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 253,209 shares of company stock valued at $36,711,144. Insiders own 12.99% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intergy Private Wealth LLC boosted its holdings in Alphabet by 1.9% during the first quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock worth $517,000 after buying an additional 63 shares during the last quarter. Smith Anglin Financial LLC boosted its holdings in Alphabet by 2.0% during the first quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock worth $491,000 after buying an additional 64 shares during the last quarter. Fiduciary Alliance LLC boosted its holdings in Alphabet by 1.4% during the first quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock worth $762,000 after buying an additional 67 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in Alphabet by 0.8% during the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock worth $1,308,000 after buying an additional 68 shares during the last quarter. Finally, Cranbrook Wealth Management LLC boosted its holdings in Alphabet by 14.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after buying an additional 70 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

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.