Alphabet (NASDAQ:GOOG) Releases Quarterly Earnings Results, Misses $0.89 EPS Estimates
Alphabet (NASDAQ:GOOG – Get Rating) announced its quarterly earnings data on Tuesday. The information services provider reported EPS of $24.62 for the quarter, missing Thomson Reuters’ consensus estimate of $25.51 per ($0.89), MarketWatch Earnings reports. Alphabet had a net margin of 29.51% and a return on equity of 31.56%. In the same period a year earlier, the company earned earnings per share of $26.29.
Shares of GOOG traded at $53.77 at midday Wednesday, hitting $2,336.35. 91,807 shares of the company have been traded, compared to its average volume of 1,529,315. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 20.37, a P/ E/G of 1.08 and a beta of 1.06. The stock’s 50-day moving average is $2,660.95 and its two-hundred-day moving average is $2,784.18. Alphabet has a 12-month low of $2,230.05 and a 12-month high of $3,042.00. The company has a debt ratio of 0.06, a current ratio of 2.93 and a quick ratio of 2.91.
Alphabet shares are set to split before the market opens on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly issued shares will be distributed to shareholders after market close on Friday, July 15.
Separately, director Lawrence Page sold 100 shares in a trade that took place on Monday, April 18. The stock was sold at an average price of $2,574.16, for a total value of $257,416.00. Following the transaction, the director now owns 19,527,502 shares of the company, valued at $50,266,914,548.32. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, CEO Sundar Pichai sold 3,000 shares in a trade that took place on Wednesday, February 2. The stock was sold at an average price of $2,992.62, for a total value of $8,977,860.00. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 597,775 shares of the company worth $153,262,635. Insiders own 12.99% of the shares of the company.
A number of hedge funds and other institutional investors have recently changed their positions in GOOG. Allianz Asset Management GmbH increased its position in Alphabet by 16.7% in the 4th quarter. Allianz Asset Management GmbH now owns 385,791 shares of the information services provider valued at $1,116,320,000 after acquiring an additional 55,312 shares last quarter. Morgan Stanley increased its position in Alphabet by 2.1% in the second quarter. Morgan Stanley now owns 2,433,132 shares of the information services provider valued at $6,098,209,000 after acquiring an additional 50,601 shares last quarter. Tiger Eye Capital LLC increased its position in Alphabet by 84.7% in the fourth quarter. Tiger Eye Capital LLC now owns 9,412 shares of the information services provider valued at $27,234,000 after acquiring 4,317 additional shares last quarter. Heritage Wealth Advisors increased its position in Alphabet by 4.3% in the 4th quarter. Heritage Wealth Advisors now owns 7,629 shares of the information services provider valued at $22,075,000 after acquiring 317 additional shares last quarter. Finally, Autumn Glory Partners LLC purchased a new stake in Alphabet during the 4th quarter at a value of $527,000. 30.76% of the shares are currently held by institutional investors and hedge funds.
Several equity analysts have recently commented on the company. Tigress Financial raised its price target on Alphabet from $3,540.00 to $3,670.00 in a Friday, March 18 research report. Credit Suisse Group raised its price target on Alphabet from $3,400.00 to $3,500.00 and gave the company an “outperform” rating in a Wednesday, Feb. 2 research report. Bank of America raised its price target on Alphabet from $3,210.00 to $3,470.00 in a Wednesday, January 19 research report. Monness Crespi & Hardt raised its price target on Alphabet from $3,660.00 to $3,850.00 and gave the stock a “buy” rating in a Wednesday, Feb. 2 research report. Finally, Wedbush reiterated an “outperforming” rating on Alphabet shares in a Wednesday, April 20 research report. Three research analysts gave the stock a hold rating and thirty gave the company a buy rating. According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $3,315.77.
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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.
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