Alphabet Inc. (NASDAQ:GOOG) – Stock analysts at Jefferies Financial Group lifted their Q1 2021 earnings per share estimates for shares of Alphabet in a research note issued on Wednesday, April 21st. Jefferies Financial Group analyst B. Thill now forecasts that the information services provider will post earnings of $15.98 per share for the quarter, up from their previous estimate of $15.17. Jefferies Financial Group also issued estimates for Alphabet’s Q2 2021 earnings at $16.31 EPS, Q3 2021 earnings at $17.76 EPS, Q4 2021 earnings at $21.76 EPS, FY2021 earnings at $71.78 EPS and FY2022 earnings at $85.58 EPS.
Several other analysts have also recently issued reports on GOOG. JPMorgan Chase & Co. raised their target price on Alphabet from $2,390.00 to $2,575.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 12th. Evercore ISI reissued an “outperform” rating and issued a $2,525.00 target price on shares of Alphabet in a research note on Tuesday, April 13th. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, April 16th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 3rd. Two equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $2,342.42.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, February 1st. The information services provider reported $22.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $15.91 by $6.39. The firm had revenue of $56.90 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $15.35 earnings per share.
Large investors have recently bought and sold shares of the company. Trust Asset Management LLC boosted its holdings in Alphabet by 79.4% in the 3rd quarter. Trust Asset Management LLC now owns 3,024 shares of the information services provider’s stock worth $4,444,000 after buying an additional 1,338 shares during the period. Ameraudi Asset Management Inc. bought a new position in Alphabet in the 3rd quarter worth $207,000. Schonfeld Strategic Advisors LLC boosted its holdings in Alphabet by 143.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 14,102 shares of the information services provider’s stock worth $20,724,000 after buying an additional 8,321 shares during the period. IHT Wealth Management LLC boosted its holdings in Alphabet by 25.2% in the 3rd quarter. IHT Wealth Management LLC now owns 3,893 shares of the information services provider’s stock worth $5,721,000 after buying an additional 784 shares during the period. Finally, Kingsview Wealth Management LLC boosted its holdings in Alphabet by 2.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 1,564 shares of the information services provider’s stock worth $2,298,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 31.94% of the company’s stock.
In other news, SVP Philipp Schindler sold 1,385 shares of the company’s stock in a transaction on Monday, February 1st. The stock was sold at an average price of $1,852.09, for a total value of $2,565,144.65. Following the completion of the sale, the senior vice president now directly owns 18,712 shares in the company, valued at approximately $34,656,308.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Kent Walker sold 2,570 shares of the company’s stock in a transaction on Monday, March 29th. The stock was sold at an average price of $2,037.34, for a total value of $5,235,963.80. Following the completion of the sale, the senior vice president now owns 26,707 shares of the company’s stock, valued at $54,411,239.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,104 shares of company stock valued at $42,565,228. Company insiders own 12.99% 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.
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