Alphabet Inc (NASDAQ:GOOG) – Equities researchers at Oppenheimer lowered their Q2 2019 earnings estimates for Alphabet in a report issued on Tuesday, April 30th, Zacks Investment Research reports. Oppenheimer analyst J. Helfstein now forecasts that the information services provider will post earnings per share of $11.30 for the quarter, down from their prior forecast of $12.36. Oppenheimer currently has a “Outperform” rating and a $1,435.00 price target on the stock. Oppenheimer also issued estimates for Alphabet’s Q3 2019 earnings at $12.33 EPS, Q4 2019 earnings at $12.55 EPS, FY2019 earnings at $48.08 EPS and FY2020 earnings at $53.42 EPS.
A number of other research firms also recently issued reports on GOOG. UBS Group reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, February 5th. Deutsche Bank restated a “buy” rating and set a $1,380.00 price target (up from $1,300.00) on shares of Alphabet in a report on Tuesday, February 5th. BidaskClub downgraded Alphabet from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. Barclays restated a “buy” rating on shares of Alphabet in a report on Tuesday, April 30th. Finally, Credit Suisse Group restated a “buy” rating on shares of Alphabet in a report on Monday, January 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $1,361.50.
GOOG opened at $1,133.47 on Friday. The company has a quick ratio of 3.93, a current ratio of 3.96 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $786.90 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.34 and a beta of 1.03. Alphabet has a 12-month low of $970.11 and a 12-month high of $1,289.27.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 EPS for the quarter, topping analysts’ consensus estimates of $10.51 by $1.39. The company had revenue of $36.34 billion during the quarter, compared to analyst estimates of $37.36 billion. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the firm posted $9.93 earnings per share.
In related news, Director John L. Hennessy sold 375 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,200.00, for a total value of $450,000.00. Following the transaction, the director now directly owns 80 shares of the company’s stock, valued at approximately $96,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Amie Thuener O’toole sold 89 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $1,145.00, for a total value of $101,905.00. Following the completion of the transaction, the vice president now directly owns 388 shares in the company, valued at $444,260. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 817 shares of company stock worth $974,730. Insiders own 13.11% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Round Table Services LLC bought a new position in shares of Alphabet in the third quarter valued at about $347,000. Arizona State Retirement System raised its position in shares of Alphabet by 2.3% in the third quarter. Arizona State Retirement System now owns 76,314 shares of the information services provider’s stock valued at $91,078,000 after purchasing an additional 1,692 shares during the period. First National Bank & Trust Co. of Newtown raised its position in shares of Alphabet by 7.7% in the third quarter. First National Bank & Trust Co. of Newtown now owns 835 shares of the information services provider’s stock valued at $997,000 after purchasing an additional 60 shares during the period. Hall Laurie J Trustee raised its position in shares of Alphabet by 4.0% in the third quarter. Hall Laurie J Trustee now owns 2,483 shares of the information services provider’s stock valued at $2,964,000 after purchasing an additional 95 shares during the period. Finally, Parsec Financial Management Inc. raised its position in shares of Alphabet by 3.3% in the third quarter. Parsec Financial Management Inc. now owns 8,851 shares of the information services provider’s stock valued at $10,563,000 after purchasing an additional 280 shares during the period. 34.00% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.