Alphabet (NASDAQ:GOOG) Announces Earnings Results

Alphabet (NASDAQ:GOOG) released its earnings results on Thursday. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38, Yahoo Finance reports. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the prior year, the company earned $1.17 EPS. The company’s revenue was up 15.4% on a year-over-year basis.

Alphabet Price Performance

Shares of GOOG traded down $5.79 during mid-day trading on Monday, reaching $167.90. The company had a trading volume of 35,888,579 shares, compared to its average volume of 22,805,301. The company has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 1.59 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The company’s 50 day simple moving average is $149.12 and its 200 day simple moving average is $142.78. Alphabet has a 1-year low of $104.50 and a 1-year high of $176.42.

Alphabet Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer lifted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, Raymond James increased their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet has an average rating of “Buy” and an average price target of $165.67.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 253,439 shares of company stock valued at $36,746,578. 12.99% of the stock is currently owned by insiders.

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.