Alphabet (NASDAQ:GOOGL) Posts Earnings Results, Beats Expectations By $0.29 EPS

Alphabet (NASDAQ:GOOGL) released its earnings results on Tuesday. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29, Yahoo Finance reports. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the business posted $1.55 EPS.

Alphabet Price Performance

NASDAQ:GOOGL traded up $0.54 during mid-day trading on Friday, reaching $171.65. The stock had a trading volume of 15,322,755 shares, compared to its average volume of 27,168,465. The firm has a 50 day moving average price of $162.32 and a two-hundred day moving average price of $168.79. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 22.67, a P/E/G ratio of 1.29 and a beta of 1.04. Alphabet has a one year low of $126.93 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,244 shares of company stock worth $37,776,954 in the last quarter. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOOGL. Tigress Financial lifted their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Sanford C. Bernstein lifted their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday. Evercore ISI lifted their target price on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Company Profile

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.