Alphabet Inc Class A (GOOGL) Shares Gap Up After Strong Earnings

Alphabet Inc Class A (NASDAQ:GOOGL)’s share price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $1,033.94, but opened at $1,057.12. Alphabet Inc Class A shares last traded at $1,103.59, with a volume of 3648399 shares traded.

The information services provider reported $13.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $10.54 by $2.52. The business had revenue of $27.16 billion during the quarter, compared to the consensus estimate of $27.32 billion. Alphabet Inc Class A had a return on equity of 18.24% and a net margin of 13.16%.

GOOGL has been the subject of a number of research reports. Macquarie reiterated a “buy” rating and set a $1,250.00 price objective on shares of Alphabet Inc Class A in a report on Thursday, September 27th. MKM Partners increased their price objective on Alphabet Inc Class A from $1,355.00 to $1,465.00 and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Morgan Stanley reiterated an “overweight” rating and set a $1,515.00 price objective (up from $1,325.00) on shares of Alphabet Inc Class A in a report on Wednesday, August 29th. Zacks Investment Research downgraded Alphabet Inc Class A from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $1,450.00 price objective on shares of Alphabet Inc Class A in a report on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirty-one have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $1,330.46.



Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC lifted its position in shares of Alphabet Inc Class A by 7.7% in the second quarter. Jaffetilchin Investment Partners LLC now owns 572 shares of the information services provider’s stock valued at $646,000 after buying an additional 41 shares during the last quarter. Northstar Capital Management LLC lifted its position in shares of Alphabet Inc Class A by 1.1% in the second quarter. Northstar Capital Management LLC now owns 3,775 shares of the information services provider’s stock valued at $4,263,000 after buying an additional 41 shares during the last quarter. M Holdings Securities Inc. lifted its position in shares of Alphabet Inc Class A by 2.0% in the second quarter. M Holdings Securities Inc. now owns 2,096 shares of the information services provider’s stock valued at $2,367,000 after buying an additional 42 shares during the last quarter. Boston Family Office LLC lifted its position in shares of Alphabet Inc Class A by 1.8% in the second quarter. Boston Family Office LLC now owns 2,452 shares of the information services provider’s stock valued at $2,769,000 after buying an additional 43 shares during the last quarter. Finally, Warren Averett Asset Management LLC lifted its position in shares of Alphabet Inc Class A by 2.7% in the second quarter. Warren Averett Asset Management LLC now owns 1,659 shares of the information services provider’s stock valued at $1,873,000 after buying an additional 44 shares during the last quarter. 33.48% of the stock is owned by institutional investors.

The stock has a market cap of $773.45 billion, a PE ratio of 33.81, a P/E/G ratio of 1.40 and a beta of 1.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.15 and a quick ratio of 4.13.

Alphabet Inc Class A Company Profile (NASDAQ:GOOGL)

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.

Recommended Story: Penny Stocks, What You Need To Know

Receive News & Ratings for Alphabet Inc Class A Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc Class A and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply