Wedbush Weighs in on Alphabet Inc.’s Q1 2021 Earnings (NASDAQ:GOOG)

Alphabet Inc. (NASDAQ:GOOG) – Stock analysts at Wedbush issued their Q1 2021 earnings estimates for Alphabet in a research report issued to clients and investors on Tuesday, April 13th. Wedbush analyst Y. Arounian anticipates that the information services provider will earn $13.33 per share for the quarter. Wedbush currently has a “Outperform” rating and a $2,953.00 target price on the stock. Wedbush also issued estimates for Alphabet’s Q2 2021 earnings at $14.28 EPS, Q3 2021 earnings at $16.83 EPS, Q4 2021 earnings at $21.64 EPS, FY2021 earnings at $66.08 EPS, Q1 2022 earnings at $16.25 EPS, Q2 2022 earnings at $16.78 EPS, Q3 2022 earnings at $20.25 EPS, Q4 2022 earnings at $27.85 EPS, FY2022 earnings at $81.14 EPS and FY2023 earnings at $96.35 EPS.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, February 1st. The information services provider reported $22.30 EPS for the quarter, beating the consensus estimate of $15.91 by $6.39. The business had revenue of $56.90 billion during the quarter, compared to analysts’ expectations of $52.86 billion. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period last year, the firm earned $15.35 EPS.

Other equities analysts have also recently issued reports about the company. Mizuho lifted their price objective on Alphabet from $2,100.00 to $2,350.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Jefferies Financial Group lifted their price objective on Alphabet from $2,150.00 to $2,400.00 in a report on Wednesday, February 3rd. Cowen raised their price target on Alphabet from $2,400.00 to $2,600.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 12th. Finally, Barclays reissued a “buy” rating on shares of Alphabet in a research report on Thursday, February 4th. One analyst has rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $2,280.05.

GOOG opened at $2,296.66 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.41 and a quick ratio of 3.39. The business has a 50 day simple moving average of $2,105.26 and a 200-day simple moving average of $1,853.07. The stock has a market capitalization of $1.55 trillion, a P/E ratio of 44.38, a P/E/G ratio of 1.66 and a beta of 0.98. Alphabet has a 12 month low of $1,209.71 and a 12 month high of $2,306.60.

In related news, SVP Philipp Schindler sold 1,385 shares of the stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $1,852.09, for a total value of $2,565,144.65. Following the completion of the transaction, the senior vice president now directly owns 18,712 shares in the company, valued at approximately $34,656,308.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 30 shares of the stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $2,152.94, for a total transaction of $64,588.20. Following the completion of the transaction, the chief accounting officer now owns 966 shares of the company’s stock, valued at $2,079,740.04. The disclosure for this sale can be found here. Insiders sold a total of 17,104 shares of company stock valued at $35,725,438 over the last 90 days. Company insiders own 12.99% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in GOOG. Trust Asset Management LLC increased its stake in Alphabet by 79.4% during the 3rd quarter. Trust Asset Management LLC now owns 3,024 shares of the information services provider’s stock valued at $4,444,000 after purchasing an additional 1,338 shares in the last quarter. Ameraudi Asset Management Inc. purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $207,000. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Alphabet by 143.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 14,102 shares of the information services provider’s stock valued at $20,724,000 after acquiring an additional 8,321 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $560,000. Finally, IHT Wealth Management LLC boosted its holdings in shares of Alphabet by 25.2% during the 3rd quarter. IHT Wealth Management LLC now owns 3,893 shares of the information services provider’s stock valued at $5,721,000 after acquiring an additional 784 shares during the last quarter. Institutional investors and hedge funds own 31.94% of the company’s stock.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

Further Reading: What is operating income?

Earnings History and Estimates for Alphabet (NASDAQ:GOOG)

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