Wall Street brokers expect Alphabet Inc. (NASDAQ:GOOGL – Get Rating) to post $58.45 billion in revenue for the current fiscal quarter, according to Zacks Investment Research. Ten analysts released estimates of Alphabet’s earnings. The lowest sales estimate is $57.33 billion and the highest is $60.36 billion. Alphabet posted sales of $50.95 billion in the same quarter last year, indicating a positive year-over-year growth rate of 14.7%. The company is expected to announce its next earnings report on Monday, January 1.
According to Zacks, analysts expect Alphabet to post annual sales of $245.99 billion in the current fiscal year, with estimates ranging from $242.03 billion to $252.54 billion. For the next fiscal year, analysts expect the company to register sales of $283.90 billion, with estimates ranging from $270.60 billion to $298.06 billion. Zacks Investment Research sales averages are an average based on a survey of research analysts who cover Alphabet.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its results on Tuesday, April 26. The information services provider reported earnings per share of $24.62 for the quarter, missing Thomson Reuters’ consensus estimate of $25.51 per ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period of the previous year, the company achieved EPS of $26.29.
A number of research companies have recently published reports on GOOGL. Mizuho cut its price target on Alphabet shares from $3,600.00 to $3,500.00 and set a “buy” rating for the company in a Wednesday, April 27 research note. Piper Sandler cut her price target on Alphabet shares from $3,475.00 to $2,900.00 and set an “overweight” rating for the company in a Wednesday, April 27 research note. Bank of America raised its price target on Alphabet shares from $3,470.00 to $3,510.00 and gave the stock a “buy” rating in a Wednesday, Feb. 2 research report. Wedbush lowered its price target on Alphabet shares from $3,800.00 to $3,113.00 in a Wednesday, April 27 research report. Finally, Barclays lowered its price target on Alphabet shares from $3,300.00 to $3,200.00 and set an “overweight” rating for the company in a Wednesday, April 27 research report. Four investment analysts gave the stock a hold rating, thirty-four gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $3,314.08.
In other Alphabet news, 2016 major shareholder Gp LLC Gv sold 544,249 shares of Alphabet in a trade on Monday, April 11. The shares were sold at an average price of $11.16, for a total value of $6,073,818.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, director Brin Sergey sold 2,710 shares of Alphabet in a trade dated Wednesday, April 13. The shares were sold at an average price of $2,600.32, for a total transaction of $7,046,867.20. Following the transaction, the director now owns 18,571,041 shares of the company, valued at $48,290,649,333.12. The disclosure of this sale can be found here. Insiders have sold 549,698 shares of the company valued at $20,324,689 in the past three months. 11.70% of the shares are held by insiders.
A number of hedge funds have recently changed their positions in the business. Brooks Moore & Associates Inc. increased its position in Alphabet shares by 3.1% in the first quarter. Brooks Moore & Associates Inc. now owns 1,340 shares of the information services provider valued at $3,727,000 after purchasing 40 additional shares during the period. Hohimer Wealth Management LLC increased its stake in Alphabet by 5.5% in Q1. Hohimer Wealth Management LLC now owns 2,500 shares of the information services provider worth $6,953,000 after acquiring an additional 130 shares during the period. Carter Financial Group Inc. acquired a new stake in Alphabet during Q1 worth approximately $381,000. First National Trust Co increased its stake in Alphabet by 8.2% in the first quarter. First National Trust Co now owns 13,035 shares of the information services provider worth $36,255,000 after buying 992 more shares last quarter. Finally, Edge Capital Group LLC increased its stake in Alphabet by 0.6% in the 1st quarter. Edge Capital Group LLC now owns 1,884 shares of the information services provider worth $5,240,000 after buying 12 more shares in the last quarter. 41.70% of the shares are currently held by institutional investors and hedge funds.
GOOGL stock opened at $2,346.68 on Wednesday. Alphabet has a 12-month low of $2,193.62 and a 12-month high of $3,030.93. The company has a market cap of $1.55 trillion, a PE ratio of 21.23, a price-to-earnings growth ratio of 1.03, and a beta of 1.13. The company’s 50-day simple moving average is $2,625.96 and its 200-day simple moving average is $2,761.08. The company has a quick ratio of 2.85, a current ratio of 2.87 and a leverage ratio of 0.06.
Alphabet shares will split before the market opens on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be payable to shareholders after market close on Friday July 15.
Alphabet Company Profile (Get a rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.
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