Alphabet Inc. (NASDAQ:GOOGL) – Investment analysts at KeyCorp lowered their Q2 2018 earnings per share (EPS) estimates for Alphabet in a research report issued to clients and investors on Monday, April 23rd. KeyCorp analyst A. Hargreaves now anticipates that the information services provider will earn $9.34 per share for the quarter, down from their prior estimate of $9.88. KeyCorp has a “Overweight” rating and a $1,230.00 price objective on the stock. KeyCorp also issued estimates for Alphabet’s Q3 2018 earnings at $10.12 EPS, Q4 2018 earnings at $10.38 EPS and Q4 2019 earnings at $11.67 EPS.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Alphabet from a “sell” rating to a “hold” rating in a report on Wednesday. TheStreet raised shares of Alphabet from a “c+” rating to an “a-” rating in a report on Monday. Stifel Nicolaus raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,234.00 price target on the stock in a report on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $1,200.00 price target on shares of Alphabet in a report on Tuesday. Finally, Canaccord Genuity reissued a “hold” rating on shares of Alphabet in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $1,189.28.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $9.21 by $0.72. The company had revenue of $24.86 billion for the quarter, compared to the consensus estimate of $24.20 billion. Alphabet had a net margin of 14.19% and a return on equity of 15.79%. During the same period in the previous year, the firm earned $7.73 EPS.
Alphabet declared that its board has authorized a stock buyback program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in shares of Alphabet in the fourth quarter worth approximately $108,000. Odey Holdings AG increased its position in shares of Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after purchasing an additional 20 shares during the last quarter. Stuart Chaussee & Associates Inc. bought a new position in shares of Alphabet in the fourth quarter worth approximately $123,000. Stelac Advisory Services LLC bought a new position in shares of Alphabet in the third quarter worth approximately $126,000. Finally, Lee Financial Co increased its position in shares of Alphabet by 500.0% in the fourth quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock worth $126,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.
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.
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