Alphabet (GOOGL) Projected to Post Quarterly Earnings on Wednesday

Alphabet (NASDAQ:GOOGL) will likely be posting its results after the market closes on Wednesday, October 29th. Analysts expect Alphabet to post earnings of $2.29 per share and revenue of $99.9013 billion for the quarter.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, analysts expect Alphabet to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Alphabet Stock Performance

Shares of Alphabet stock opened at $250.46 on Wednesday. The firm’s fifty day simple moving average is $233.60 and its 200-day simple moving average is $193.31. The stock has a market capitalization of $3.03 trillion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.74 and a beta of 1.00. Alphabet has a 12 month low of $140.53 and a 12 month high of $257.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently made changes to their positions in the stock. North Berkeley Wealth Management LLC boosted its position in shares of Alphabet by 1.3% in the 2nd quarter. North Berkeley Wealth Management LLC now owns 4,200 shares of the information services provider’s stock worth $740,000 after buying an additional 55 shares in the last quarter. Vista Investment Management boosted its position in shares of Alphabet by 0.5% in the 2nd quarter. Vista Investment Management now owns 11,631 shares of the information services provider’s stock worth $2,050,000 after buying an additional 55 shares in the last quarter. McIlrath & Eck LLC boosted its position in shares of Alphabet by 0.7% in the 2nd quarter. McIlrath & Eck LLC now owns 9,713 shares of the information services provider’s stock worth $1,712,000 after buying an additional 64 shares in the last quarter. Sonoma Private Wealth LLC boosted its position in shares of Alphabet by 1.3% in the 2nd quarter. Sonoma Private Wealth LLC now owns 5,246 shares of the information services provider’s stock worth $925,000 after buying an additional 66 shares in the last quarter. Finally, Kilter Group LLC boosted its position in shares of Alphabet by 5.1% in the 2nd quarter. Kilter Group LLC now owns 1,388 shares of the information services provider’s stock worth $245,000 after buying an additional 67 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, October 14th. Tigress Financial boosted their price objective on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday, September 5th. DA Davidson boosted their price objective on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Finally, BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $257.60.

About Alphabet

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.