Alphabet Inc. (NASDAQ:GOOGL) Forecasted to Post Q4 2023 Earnings of $1.64 Per Share

Alphabet Inc. (NASDAQ:GOOGLFree Report) – Analysts at Seaport Res Ptn raised their Q4 2023 earnings per share (EPS) estimates for Alphabet in a research note issued to investors on Monday, January 29th. Seaport Res Ptn analyst A. Kessler now forecasts that the information services provider will post earnings per share of $1.64 for the quarter, up from their prior estimate of $1.61. The consensus estimate for Alphabet’s current full-year earnings is $5.77 per share. Seaport Res Ptn also issued estimates for Alphabet’s Q1 2024 earnings at $1.43 EPS, Q2 2024 earnings at $1.60 EPS, Q4 2024 earnings at $1.81 EPS and FY2024 earnings at $6.46 EPS.

GOOGL has been the topic of several other research reports. Morgan Stanley reduced their target price on shares of Alphabet from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Needham & Company LLC lifted their target price on shares of Alphabet from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. StockNews.com raised Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Mizuho lifted their price objective on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Wells Fargo & Company increased their target price on Alphabet from $126.00 to $129.00 and gave the company an “equal weight” rating in a research note on Thursday, November 16th. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $150.15.

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Alphabet Stock Down 1.3 %

Shares of GOOGL opened at $151.46 on Wednesday. The firm has a market capitalization of $1.90 trillion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.35 and a beta of 1.05. Alphabet has a 52 week low of $88.57 and a 52 week high of $153.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04. The business’s fifty day moving average price is $139.41 and its two-hundred day moving average price is $134.57.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently bought and sold shares of GOOGL. Bornite Capital Management LP bought a new stake in shares of Alphabet during the 1st quarter worth approximately $16,688,000. Markel Corp lifted its stake in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank boosted its holdings in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management raised its holdings in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares in the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 75,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the completion of the sale, the director now owns 104,364 shares of the company’s stock, valued at approximately $13,681,076.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kavitark Ram Shriram sold 75,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $131.09, for a total value of $9,831,750.00. Following the transaction, the director now owns 104,364 shares in the company, valued at approximately $13,681,076.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $141.43, for a total transaction of $3,182,175.00. Following the sale, the chief executive officer now owns 2,407,688 shares of the company’s stock, valued at $340,519,313.84. The disclosure for this sale can be found here. Insiders sold a total of 189,439 shares of company stock valued at $25,954,116 over the last three months. Insiders own 0.88% of the company’s stock.

Alphabet Company Profile

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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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Earnings History and Estimates for Alphabet (NASDAQ:GOOGL)

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