Alphabet (GOOGL) Releases Quarterly Earnings Results, Beats Estimates By $1.91 EPS
Alphabet (NASDAQ:GOOGL) announced its quarterly earnings results on Monday. The information services provider reported $12.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.86 by $1.91, MarketWatch Earnings reports. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. During the same quarter in the prior year, the business earned $9.70 earnings per share.
Shares of Alphabet stock opened at $1,141.42 on Tuesday. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. Alphabet has a 52 week low of $977.66 and a 52 week high of $1,291.44. The stock has a market capitalization of $778.42 billion, a price-to-earnings ratio of 35.61, a price-to-earnings-growth ratio of 1.31 and a beta of 1.05.
A number of hedge funds and other institutional investors have recently bought and sold shares of GOOGL. Bank of New York Mellon Corp raised its holdings in Alphabet by 118,334.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,287,743 shares of the information services provider’s stock worth $3,968,570,000 after buying an additional 3,284,967 shares during the period. Rehmann Capital Advisory Group raised its holdings in Alphabet by 118,282.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,814,798 shares of the information services provider’s stock worth $2,137,263,000 after buying an additional 1,813,265 shares during the period. Packer & Co Ltd acquired a new stake in Alphabet during the 4th quarter worth about $21,605,000. FMR LLC raised its holdings in Alphabet by 5.5% during the 3rd quarter. FMR LLC now owns 16,434,628 shares of the information services provider’s stock worth $19,837,909,000 after buying an additional 858,589 shares during the period. Finally, LFA Lugano Financial Advisors SA acquired a new stake in Alphabet during the 2nd quarter worth about $774,000. Hedge funds and other institutional investors own 33.41% of the company’s stock.
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Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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