Alphabet (NASDAQ:GOOG) Issues Quarterly Earnings Results

Alphabet (NASDAQ:GOOG) released its earnings results on Thursday. The information services provider reported $10.13 EPS for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70, MarketWatch Earnings reports. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. The firm had revenue of $31.60 billion during the quarter, compared to the consensus estimate of $30.58 billion.

Shares of Alphabet stock traded down $48.49 during trading hours on Friday, reaching $1,482.96. 3,429,036 shares of the company’s stock were exchanged, compared to its average volume of 1,408,813. The business has a fifty day moving average of $1,474.19 and a two-hundred day moving average of $1,377.20. The company has a market capitalization of $1,012.30 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. Alphabet has a 1 year low of $1,013.54 and a 1 year high of $1,586.99.

In other news, Director Ann Mather sold 32 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,418.39, for a total value of $45,388.48. Following the transaction, the director now directly owns 1,119 shares of the company’s stock, valued at $1,587,178.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $1,495.85, for a total transaction of $89,751.00. Following the completion of the transaction, the director now directly owns 664 shares in the company, valued at $993,244.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 212 shares of company stock worth $303,047. Insiders own 12.99% of the company’s stock.

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their target price on Alphabet from $1,505.00 to $1,700.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Pivotal Research lifted their target price on Alphabet from $1,575.00 to $1,725.00 and gave the stock a “buy” rating in a report on Friday. Raymond James lifted their target price on Alphabet from $1,425.00 to $1,700.00 and gave the stock an “outperform” rating in a report on Friday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. Finally, BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, June 25th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,671.00.

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.

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Earnings History for Alphabet (NASDAQ:GOOG)

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