Alphabet Inc. (NASDAQ:GOOGL) – Stock analysts at William Blair upped their Q3 2018 earnings estimates for Alphabet in a research report issued on Tuesday, April 24th. William Blair analyst R. Schackart now forecasts that the information services provider will post earnings of $10.31 per share for the quarter, up from their prior forecast of $9.84. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Alphabet’s FY2018 earnings at $40.60 EPS and FY2019 earnings at $48.51 EPS.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, April 23rd. The information services provider reported $9.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $9.21 by $0.72. The firm had revenue of $24.86 billion for the quarter, compared to analysts’ expectations of $24.20 billion. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. During the same quarter in the previous year, the business posted $7.73 EPS.
NASDAQ GOOGL opened at $1,043.31 on Thursday. The company has a market capitalization of $710,512.94, a price-to-earnings ratio of 32.55, a PEG ratio of 1.09 and a beta of 1.05. The company has a current ratio of 4.87, a quick ratio of 5.11 and a debt-to-equity ratio of 0.02. Alphabet has a 52 week low of $887.18 and a 52 week high of $1,198.00.
A number of institutional investors and hedge funds have recently bought and sold shares of GOOGL. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in Alphabet in the 4th quarter valued at $108,000. Odey Holdings AG grew its holdings in Alphabet by 18.2% in the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after buying an additional 20 shares in the last quarter. Stuart Chaussee & Associates Inc. acquired a new position in Alphabet in the 4th quarter valued at $123,000. Stelac Advisory Services LLC acquired a new position in Alphabet in the 3rd quarter valued at $126,000. Finally, Lee Financial Co grew its holdings in Alphabet by 500.0% in the 4th quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock valued at $126,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.
Alphabet declared that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
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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