Zacks: Brokerages Anticipate Alphabet Inc. (GOOGL) Will Post Quarterly Sales of $21.94 Billion

Equities research analysts expect that Alphabet Inc. (NASDAQ:GOOGL) will announce sales of $21.94 billion for the current quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Alphabet’s earnings, with estimates ranging from $21.55 billion to $22.60 billion. Alphabet reported sales of $18.27 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 20.1%. The company is expected to issue its next earnings results after the market closes on Thursday, October 26th.

According to Zacks, analysts expect that Alphabet will report full-year sales of $21.94 billion for the current fiscal year, with estimates ranging from $87.29 billion to $89.04 billion. For the next year, analysts forecast that the firm will report sales of $103.80 billion per share, with estimates ranging from $100.41 billion to $107.09 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Alphabet.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period in the prior year, the company posted $8.42 EPS.

A number of equities analysts have issued reports on the stock. B. Riley restated a “buy” rating and set a $1,050.00 target price on shares of Alphabet in a research report on Sunday, July 30th. Jefferies Group LLC restated a “buy” rating and set a $1,200.00 target price on shares of Alphabet in a research report on Tuesday, October 10th. They noted that the move was a valuation call. Mizuho restated a “buy” rating on shares of Alphabet in a research report on Tuesday. Cowen and Company restated an “outperform” rating and set a $1,075.00 target price on shares of Alphabet in a research report on Thursday, August 10th. Finally, Pivotal Research restated a “hold” rating and set a $970.00 target price on shares of Alphabet in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $1,058.98.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. McQueen Ball & Associates Inc. raised its holdings in Alphabet by 18.2% in the third quarter. McQueen Ball & Associates Inc. now owns 591 shares of the information services provider’s stock valued at $575,000 after acquiring an additional 91 shares in the last quarter. Neville Rodie & Shaw Inc. raised its holdings in Alphabet by 1.4% in the third quarter. Neville Rodie & Shaw Inc. now owns 14,407 shares of the information services provider’s stock valued at $14,028,000 after acquiring an additional 200 shares in the last quarter. Curbstone Financial Management Corp raised its holdings in Alphabet by 100.0% in the third quarter. Curbstone Financial Management Corp now owns 790 shares of the information services provider’s stock valued at $769,000 after acquiring an additional 395 shares in the last quarter. Bath Savings Trust Co raised its holdings in Alphabet by 9.2% in the third quarter. Bath Savings Trust Co now owns 7,529 shares of the information services provider’s stock valued at $7,332,000 after acquiring an additional 635 shares in the last quarter. Finally, Bridges Investment Management Inc. raised its holdings in Alphabet by 1.4% in the third quarter. Bridges Investment Management Inc. now owns 10,342 shares of the information services provider’s stock valued at $10,070,000 after acquiring an additional 139 shares in the last quarter. 33.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Alphabet (NASDAQ:GOOGL) opened at 1012.74 on Thursday. The company’s 50-day moving average is $963.83 and its 200 day moving average is $946.86. The stock has a market cap of $701.71 billion, a PE ratio of 36.70 and a beta of 0.96. Alphabet has a 52 week low of $743.59 and a 52 week high of $1,016.31.

About Alphabet

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.

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Earnings History and Estimates for Alphabet (NASDAQ:GOOGL)

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