Analysts expect that Alphabet Inc (NASDAQ:GOOGL) will post $24.29 billion in sales for the current fiscal quarter, Zacks reports. Eleven analysts have issued 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 in the same quarter last year, which suggests a positive year over year growth rate of 20.7%. The firm is scheduled to report its next quarterly earnings report on Thursday, April 26th.
On average, analysts expect that Alphabet will report full year sales of $24.29 billion for the current financial year, with estimates ranging from $104.17 billion to $110.14 billion. For the next fiscal year, analysts anticipate that the business will post sales of $124.66 billion per share, with estimates ranging from $120.89 billion to $128.78 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Alphabet.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.12 by ($0.42). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business had revenue of $25.87 billion for the quarter, compared to analyst estimates of $25.65 billion.
GOOGL has been the subject of several recent analyst reports. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,055.90 target price for the company in a research note on Monday, December 4th. Evercore ISI initiated coverage on Alphabet in a research note on Tuesday, December 5th. They set an “outperform” rating for the company. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 target price for the company in a research note on Tuesday, December 26th. Robert W. Baird reissued a “buy” rating and issued a $1,150.00 price objective on shares of Alphabet in a research note on Tuesday, January 2nd. Finally, Cowen raised their price objective on Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,167.67.
Alphabet (GOOGL) traded up $8.98 during midday trading on Friday, reaching $1,148.89. The company had a trading volume of 2,090,000 shares, compared to its average volume of 2,420,000. Alphabet has a fifty-two week low of $824.30 and a fifty-two week high of $1,198.00. The firm has a market capitalization of $797,790.00, a PE ratio of 35.79, a P/E/G ratio of 1.21 and a beta of 0.99. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03.
Alphabet declared that its board has authorized a share buyback plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
A number of institutional investors have recently modified their holdings of GOOGL. Beach Investment Management LLC. lifted its holdings in Alphabet by 899.9% during the second quarter. Beach Investment Management LLC. now owns 25,498 shares of the information services provider’s stock worth $23,705,000 after acquiring an additional 22,948 shares during the period. Signature Financial Management Inc. raised its stake in shares of Alphabet by 20.3% in the second quarter. Signature Financial Management Inc. now owns 2,355 shares of the information services provider’s stock valued at $2,191,000 after buying an additional 397 shares during the period. Bingham Osborn & Scarborough LLC raised its stake in shares of Alphabet by 18.6% in the second quarter. Bingham Osborn & Scarborough LLC now owns 1,041 shares of the information services provider’s stock valued at $968,000 after buying an additional 163 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Alphabet by 13.9% in the second quarter. Advisors Asset Management Inc. now owns 48,256 shares of the information services provider’s stock valued at $44,863,000 after buying an additional 5,884 shares during the period. Finally, Blue Fin Capital Inc. raised its stake in shares of Alphabet by 4.2% in the second quarter. Blue Fin Capital Inc. now owns 3,701 shares of the information services provider’s stock valued at $3,440,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 34.38% of the company’s stock.
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Alphabet Company Profile
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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