Alphabet (NASDAQ:GOOG) Issues Earnings Results

Alphabet (NASDAQ:GOOG) posted its quarterly earnings data on Tuesday. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29, Briefing.com reports. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $1.55 earnings per share.

Alphabet Trading Up 5.0 %

Alphabet stock traded up $8.56 during mid-day trading on Wednesday, hitting $179.70. 33,262,652 shares of the company’s stock were exchanged, compared to its average volume of 19,565,500. The company’s 50 day simple moving average is $163.39 and its 200-day simple moving average is $170.26. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.22 trillion, a P/E ratio of 27.67, a PEG ratio of 1.27 and a beta of 1.04. Alphabet has a fifty-two week low of $123.93 and a fifty-two week high of $193.31.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Citigroup boosted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Jefferies Financial Group raised their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 12.99% of the company’s stock.

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.