Q3 2019 EPS Estimates for Alphabet Inc (NASDAQ:GOOGL) Decreased by Analyst

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Alphabet Inc (NASDAQ:GOOGL) – SunTrust Banks reduced their Q3 2019 earnings estimates for Alphabet in a research report issued to clients and investors on Thursday, July 25th, Zacks Investment Research reports. SunTrust Banks analyst Y. Squali now expects that the information services provider will earn $11.87 per share for the quarter, down from their previous forecast of $12.08. SunTrust Banks has a “Buy” rating and a $1,325.00 price target on the stock. SunTrust Banks also issued estimates for Alphabet’s Q4 2019 earnings at $13.91 EPS.

Other equities analysts have also recently issued reports about the stock. China Renaissance Securities assumed coverage on shares of Alphabet in a research note on Wednesday, May 29th. They set a “hold” rating and a $1,270.00 target price for the company. Royal Bank of Canada upped their target price on shares of Alphabet to $1,425.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Pivotal Research initiated coverage on shares of Alphabet in a research note on Wednesday, May 29th. They set a “hold” rating and a $1,250.00 target price for the company. Argus reissued a “buy” rating and issued a $1,450.00 price target on shares of Alphabet in a report on Wednesday, May 1st. Finally, Oppenheimer set a $1,370.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $1,371.05.

NASDAQ:GOOGL opened at $1,174.50 on Monday. The firm has a market cap of $836.37 billion, a PE ratio of 24.72, a P/E/G ratio of 1.33 and a beta of 0.97. Alphabet has a one year low of $977.66 and a one year high of $1,296.97. The firm’s fifty day moving average is $1,152.95. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $31.71 billion during the quarter, compared to analysts’ expectations of $30.90 billion.

A number of institutional investors have recently added to or reduced their stakes in GOOGL. Thoroughbred Financial Services LLC lifted its position in Alphabet by 205,910.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock valued at $339,300,000 after purchasing an additional 3,391,353 shares during the period. Packer & Co Ltd lifted its position in Alphabet by 4,018.6% during the 2nd quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock valued at $25,202,000 after purchasing an additional 935,325 shares during the period. Veritas Asset Management LLP lifted its position in Alphabet by 52.9% during the 2nd quarter. Veritas Asset Management LLP now owns 1,028,976 shares of the information services provider’s stock valued at $1,114,175,000 after purchasing an additional 355,900 shares during the period. Royal London Asset Management Ltd. acquired a new position in Alphabet during the 4th quarter valued at about $237,900,000. Finally, AMF Pensionsforsakring AB lifted its position in Alphabet by 172.7% during the 4th quarter. AMF Pensionsforsakring AB now owns 209,505 shares of the information services provider’s stock valued at $218,924,000 after purchasing an additional 132,686 shares during the period. Institutional investors own 33.94% of the company’s stock.

About Alphabet

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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