Alphabet (NASDAQ:GOOG) announced its earnings results on Thursday. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $10.41 by $2.65, Fidelity Earnings reports. Alphabet had a net margin of 13.16% and a return on equity of 18.24%. The business had revenue of $27.16 billion for the quarter.
GOOG traded down $24.10 on Friday, reaching $1,071.47. 3,848,254 shares of the company’s stock were exchanged, compared to its average volume of 1,686,427. The firm has a market capitalization of $766.35 billion, a PE ratio of 26.89 and a beta of 1.11. Alphabet has a twelve month low of $980.64 and a twelve month high of $1,273.89. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02.
In related news, VP Amie Thuener O’toole sold 80 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $1,206.20, for a total transaction of $96,496.00. Following the transaction, the vice president now directly owns 388 shares in the company, valued at $468,005.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $1,113.91, for a total transaction of $11,139,100.00. Following the transaction, the chief executive officer now owns 532 shares in the company, valued at $592,600.12. The disclosure for this sale can be found here. Insiders have sold 87,646 shares of company stock worth $104,260,256 over the last 90 days. 13.11% of the stock is currently owned by company insiders.
Several brokerages have recently issued reports on GOOG. BidaskClub upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 26th. Raymond James reiterated an “outperform” rating and issued a $1,405.00 target price (up previously from $1,240.00) on shares of Alphabet in a research report on Tuesday, July 24th. Royal Bank of Canada lifted their target price on shares of Alphabet from $1,285.00 to $1,400.00 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. Nomura reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 24th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirty have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,308.81.
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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