Alphabet (GOOG) Releases Earnings Results, Misses Expectations By $0.37 EPS

Alphabet (NASDAQ:GOOG) announced its quarterly earnings data on Thursday. The information services provider reported $9.70 earnings per share for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37), Briefing.com reports. Alphabet had a net margin of 11.42% and a return on equity of 15.00%. The business had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.88 billion. During the same period in the prior year, the company earned $9.36 EPS. Alphabet’s quarterly revenue was up 24.0% on a year-over-year basis.

Shares of Alphabet (NASDAQ:GOOG) opened at $1,111.90 on Friday. Alphabet has a 1 year low of $795.25 and a 1 year high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The company has a market cap of $811,319.13, a P/E ratio of 61.91 and a beta of 1.01.

A number of analysts have recently weighed in on the stock. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, January 26th. Wells Fargo & Co reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. UBS Group restated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Jefferies Group restated a “buy” rating on shares of Alphabet in a research report on Friday. Finally, Societe Generale reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and an average price target of $1,059.10.

Alphabet announced that its Board of Directors has approved a stock repurchase program on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In related news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $1,020.69, for a total transaction of $4,082,760.00. Following the transaction, the chief executive officer now owns 949 shares of the company’s stock, valued at approximately $968,634.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 38 shares of Alphabet stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $1,015.80, for a total transaction of $38,600.40. Following the transaction, the director now directly owns 1,813 shares in the company, valued at approximately $1,841,645.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,955 shares of company stock valued at $34,431,704. 13.92% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC boosted its stake in Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after acquiring an additional 5 shares during the last quarter. Glenview Trust Co boosted its stake in Alphabet by 0.3% during the 2nd quarter. Glenview Trust Co now owns 1,878 shares of the information services provider’s stock worth $1,707,000 after acquiring an additional 6 shares during the last quarter. Almanack Investment Partners LLC. boosted its stake in Alphabet by 4.5% during the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after acquiring an additional 7 shares during the last quarter. Comerica Securities Inc. boosted its stake in Alphabet by 0.4% during the 2nd quarter. Comerica Securities Inc. now owns 1,598 shares of the information services provider’s stock worth $1,452,000 after acquiring an additional 7 shares during the last quarter. Finally, Beaumont Financial Partners LLC boosted its stake in Alphabet by 1.7% during the 2nd quarter. Beaumont Financial Partners LLC now owns 529 shares of the information services provider’s stock worth $480,000 after acquiring an additional 9 shares during the last quarter. 34.66% of the stock is currently owned by institutional investors and hedge funds.

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Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Earnings History for Alphabet (NASDAQ:GOOG)

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