Alphabet Inc. (NASDAQ:GOOGL - Get Rating) - Research analysts at Oppenheimer issued their Q2 2023 earnings estimates for Alphabet in a report issued on Tuesday, October 25th. Oppenheimer analyst J. Helfstein expects that the information services provider will post earnings of $1.35 per share for the quarter. Oppenheimer has a "Outperform" rating and a $155.00 price objective on the stock. The consensus estimate for Alphabet's current full-year earnings is $5.08 per share. Oppenheimer also issued estimates for Alphabet's Q3 2023 earnings at $1.34 EPS, Q4 2023 earnings at $1.74 EPS, FY2024 earnings at $7.08 EPS and FY2025 earnings at $8.52 EPS.
Other equities analysts also recently issued research reports about the company. Sanford C. Bernstein cut their price objective on Alphabet from $130.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday. Citigroup reduced their price target on shares of Alphabet from $140.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday. Monness Crespi & Hardt lowered their price objective on shares of Alphabet to $145.00 in a research report on Tuesday, July 5th. UBS Group reduced their target price on shares of Alphabet from $133.00 to $132.00 and set a "buy" rating on the stock in a research report on Wednesday, July 27th. Finally, Morgan Stanley decreased their price target on shares of Alphabet from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $138.86.
Shares of NASDAQ GOOGL opened at $94.93 on Thursday. Alphabet has a fifty-two week low of $94.38 and a fifty-two week high of $151.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The company has a market cap of $1.24 trillion, a price-to-earnings ratio of 18.85, a PEG ratio of 1.79 and a beta of 1.10. The business's 50 day moving average price is $104.08 and its 200-day moving average price is $111.67.
Alphabet (NASDAQ:GOOGL - Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same quarter in the previous year, the business earned $1.40 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Traverso Chambers Private Wealth Management LLC grew its position in Alphabet by 1.4% in the first quarter. Traverso Chambers Private Wealth Management LLC now owns 299 shares of the information services provider's stock worth $832,000 after acquiring an additional 4 shares during the period. West Financial Advisors LLC lifted its stake in shares of Alphabet by 4.0% in the 1st quarter. West Financial Advisors LLC now owns 104 shares of the information services provider's stock valued at $289,000 after purchasing an additional 4 shares during the last quarter. Kwmg LLC grew its holdings in shares of Alphabet by 4.8% during the 1st quarter. Kwmg LLC now owns 88 shares of the information services provider's stock worth $245,000 after purchasing an additional 4 shares during the period. Advisors Management Group Inc. ADV increased its position in shares of Alphabet by 3.9% during the 1st quarter. Advisors Management Group Inc. ADV now owns 107 shares of the information services provider's stock worth $298,000 after purchasing an additional 4 shares during the last quarter. Finally, KCS Wealth Advisory raised its holdings in Alphabet by 1.6% in the 1st quarter. KCS Wealth Advisory now owns 324 shares of the information services provider's stock valued at $901,000 after buying an additional 5 shares during the period. Hedge funds and other institutional investors own 1.88% of the company's stock.
In related news, Director Frances Arnold sold 1,230 shares of the business's stock in a transaction on Friday, July 29th. The shares were sold at an average price of $116.44, for a total value of $143,221.20. Following the completion of the transaction, the director now directly owns 9,230 shares in the company, valued at approximately $1,074,741.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O'toole sold 847 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $114.33, for a total transaction of $96,837.51. Following the transaction, the chief accounting officer now owns 24,052 shares in the company, valued at $2,749,865.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 1,230 shares of the firm's stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $116.44, for a total value of $143,221.20. Following the completion of the sale, the director now directly owns 9,230 shares in the company, valued at $1,074,741.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,286 shares of company stock worth $18,145,581. 11.44% of the stock is owned by corporate insiders.
Alphabet Inc provides 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 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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