Alphabet Inc. (GOOGL) Issues Quarterly Earnings Results

Alphabet Inc. (NASDAQ:GOOGL) announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $1.14, Bloomberg Earnings reports. The company had revenue of $22.27 billion during the quarter, compared to analyst estimates of $21.94 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. During the same quarter in the previous year, the business earned $9.06 EPS.

Shares of Alphabet (NASDAQ GOOGL) opened at $1,044.15 on Friday. Alphabet has a 52-week low of $743.59 and a 52-week high of $1,063.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The firm has a market cap of $727,956.94, a P/E ratio of 35.08, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91.

A number of institutional investors have recently modified their holdings of the business. Glassman Wealth Services raised its stake in shares of Alphabet by 0.8% during the second quarter. Glassman Wealth Services now owns 376 shares of the information services provider’s stock valued at $350,000 after acquiring an additional 3 shares during the last quarter. Capital Counsel LLC NY raised its stake in shares of Alphabet by 0.7% during the second quarter. Capital Counsel LLC NY now owns 602 shares of the information services provider’s stock valued at $560,000 after acquiring an additional 4 shares during the last quarter. GM Advisory Group Inc. raised its stake in shares of Alphabet by 0.4% during the second quarter. GM Advisory Group Inc. now owns 905 shares of the information services provider’s stock valued at $841,000 after acquiring an additional 4 shares during the last quarter. SNS Financial Group LLC raised its stake in shares of Alphabet by 1.2% during the second quarter. SNS Financial Group LLC now owns 414 shares of the information services provider’s stock valued at $385,000 after acquiring an additional 5 shares during the last quarter. Finally, Tradition Capital Management LLC raised its stake in shares of Alphabet by 1.5% during the second quarter. Tradition Capital Management LLC now owns 334 shares of the information services provider’s stock valued at $311,000 after acquiring an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 33.87% of the company’s stock.

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A number of brokerages recently weighed in on GOOGL. B. Riley reaffirmed a “buy” rating and issued a $1,050.00 target price on shares of Alphabet in a research note on Sunday, July 30th. MKM Partners reaffirmed a “buy” rating and issued a $1,210.00 target price (up from $1,170.00) on shares of Alphabet in a research note on Thursday, August 10th. Cowen and Company reaffirmed an “outperform” rating and issued a $1,075.00 target price on shares of Alphabet in a research note on Thursday, August 10th. UBS AG reaffirmed a “buy” rating and issued a $1,080.00 target price (up from $1,050.00) on shares of Alphabet in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $1,200.00 target price on shares of Alphabet in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $1,088.53.

Alphabet Company Profile

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.

Earnings History for Alphabet (NASDAQ:GOOGL)

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