Alphabet Inc (GOOGL) Expected to Announce Quarterly Sales of $24.29 Billion

Equities analysts expect that Alphabet Inc (NASDAQ:GOOGL) will report sales of $24.29 billion for the current fiscal quarter, according to Zacks. Eleven analysts have made estimates for Alphabet’s earnings. The lowest sales estimate is $23.65 billion and the highest is $25.27 billion. Alphabet posted sales of $20.12 billion during the same quarter last year, which suggests a positive year over year growth rate of 20.7%. The company is scheduled to report its next earnings report on Thursday, April 26th.

On average, analysts expect that Alphabet will report full-year sales of $24.29 billion for the current year, with estimates ranging from $104.17 billion to $110.14 billion. For the next year, analysts anticipate that the business will report sales of $124.66 billion per share, with estimates ranging from $120.89 billion to $128.78 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Alphabet.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.42). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The firm had revenue of $25.87 billion for the quarter, compared to analyst estimates of $25.65 billion.

A number of equities research analysts recently commented on GOOGL shares. CIBC reissued an “outperform” rating and issued a $1,180.00 price target (up from $1,050.00) on shares of Alphabet in a research report on Friday, October 27th. Cowen increased their price target on Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. Citigroup reissued a “buy” rating and issued a $1,180.00 price target on shares of Alphabet in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Bank of America reissued a “buy” rating and issued a $1,360.00 price target (up from $1,340.00) on shares of Alphabet in a research report on Friday, February 2nd. Finally, Goldman Sachs Group increased their price target on Alphabet from $1,125.00 to $1,175.00 in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and an average target price of $1,157.02.

Several large investors have recently added to or reduced their stakes in GOOGL. Magellan Asset Management Ltd grew its position in Alphabet by 700.9% during the 4th quarter. Magellan Asset Management Ltd now owns 2,126,562 shares of the information services provider’s stock worth $2,225,234,000 after acquiring an additional 1,861,056 shares during the last quarter. Koch Industries Inc. grew its position in Alphabet by 181,219.4% during the 2nd quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock worth $1,085,000 after acquiring an additional 1,085,504 shares during the last quarter. Vanguard Group Inc. grew its position in Alphabet by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after acquiring an additional 662,279 shares during the last quarter. BlackRock Inc. grew its position in Alphabet by 3.1% during the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after acquiring an additional 567,337 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Alphabet by 54.9% during the 4th quarter. California Public Employees Retirement System now owns 1,055,580 shares of the information services provider’s stock worth $1,111,948,000 after acquiring an additional 374,121 shares during the last quarter. 33.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Alphabet (NASDAQ GOOGL) opened at $1,103.59 on Wednesday. The company has a market capitalization of $761,134.81, a price-to-earnings ratio of 61.45, a P/E/G ratio of 1.13 and a beta of 0.95. Alphabet has a 12-month low of $824.30 and a 12-month high of $1,198.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11.

Alphabet announced that its board has authorized a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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