Trading Report: The Alphabet Inc. (GOOG) Announces Earnings Results, Beats Expectations By $0.44 EPS

The Alphabet Inc. (GOOG) Announces  Earnings Results, Beats Expectations By $0.44 EPS

Alphabet Inc. (NASDAQ:GOOG) released its earnings results on Thursday. The company reported $9.06 EPS for the quarter, beating the Zacks’ consensus estimate of $8.62 by $0.44. The company earned $22.45 billion during the quarter, compared to analysts’ expectations of $13.17 billion. Alphabet had a return on equity of 15.08% and a net margin of 22.29%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $7.35 EPS.

Shares of Alphabet (NASDAQ:GOOG) opened at 795.37 on Monday. The stock has a market cap of $548.12 billion, a price-to-earnings ratio of 29.03 and a beta of 1.03. Alphabet has a one year low of $663.06 and a one year high of $816.68. The stock’s 50 day moving average price is $781.75 and its 200 day moving average price is $745.78.

In related news, insider Sergey Brin sold 33,332 shares of Alphabet stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $785.01, for a total value of $26,165,953.32. Following the completion of the sale, the insider now owns 20,134,915 shares in the company, valued at approximately $15,806,109,624.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $769.93, for a total transaction of $3,079,720.00. Following the completion of the sale, the chief executive officer now owns 46,267 shares of the company’s stock, valued at approximately $35,622,351.31. The disclosure for this sale can be found here. Insiders own 13.92% of the company’s stock.

A number of hedge funds have recently bought and sold shares of GOOG. Lakeview Capital Partners LLC increased its stake in Alphabet by 0.3% in the second quarter. Lakeview Capital Partners LLC now owns 327 shares of the company’s stock valued at $226,000 after buying an additional 1 shares during the period. GW Henssler & Associates Ltd. increased its stake in Alphabet by 0.6% in the second quarter. GW Henssler & Associates Ltd. now owns 340 shares of the company’s stock valued at $235,000 after buying an additional 2 shares during the period. Shufro Rose & Co. LLC increased its stake in Alphabet by 0.6% in the second quarter. Shufro Rose & Co. LLC now owns 357 shares of the company’s stock valued at $247,000 after buying an additional 2 shares during the period. Alpha Windward LLC increased its stake in Alphabet by 0.9% in the third quarter. Alpha Windward LLC now owns 222 shares of the company’s stock valued at $173,000 after buying an additional 2 shares during the period. Finally, 1st Global Advisors Inc. increased its stake in Alphabet by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 658 shares of the company’s stock valued at $455,000 after buying an additional 3 shares during the period. Hedge funds and other institutional investors own 34.53% of the company’s stock.

GOOG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. set a $920.00 target price on Alphabet and gave the company a “buy” rating in a research note on Tuesday, July 12th. Pivotal Research restated a “buy” rating and issued a $1,000.00 target price (up previously from $970.00) on shares of Alphabet in a research note on Tuesday, July 12th. Societe Generale set a $910.00 target price on Alphabet and gave the company a “buy” rating in a research note on Thursday, July 7th. Longbow Research initiated coverage on Alphabet in a research note on Wednesday, July 6th. They issued a “buy” rating for the company. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and forty-four have given a buy rating to the company. Alphabet has an average rating of “Buy” and an average target price of $939.36.

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