$30.90 Billion in Sales Expected for Alphabet Inc (GOOGL) This Quarter
Equities analysts forecast that Alphabet Inc (NASDAQ:GOOGL) will post $30.90 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Alphabet’s earnings, with the highest sales estimate coming in at $31.56 billion and the lowest estimate coming in at $30.59 billion. Alphabet reported sales of $26.24 billion during the same quarter last year, which would suggest a positive year over year growth rate of 17.8%. The business is expected to issue its next quarterly earnings results on Monday, July 22nd.
On average, analysts expect that Alphabet will report full year sales of $130.10 billion for the current fiscal year, with estimates ranging from $129.22 billion to $131.04 billion. For the next year, analysts anticipate that the business will report sales of $152.03 billion, with estimates ranging from $149.96 billion to $154.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Alphabet.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share for the quarter, topping the consensus estimate of $10.56 by $1.34. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The firm had revenue of $29.48 billion during the quarter, compared to analysts’ expectations of $29.99 billion. During the same period in the prior year, the company earned $13.33 earnings per share.
A number of hedge funds and other institutional investors have recently bought and sold shares of GOOGL. MUFG Securities EMEA plc increased its holdings in Alphabet by 82,484.5% in the fourth quarter. MUFG Securities EMEA plc now owns 63,262,221 shares of the information services provider’s stock valued at $66,106,490,000 after purchasing an additional 63,185,618 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Alphabet by 103,543.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 54,899,064 shares of the information services provider’s stock worth $53,000 after acquiring an additional 54,846,095 shares during the period. Norges Bank acquired a new stake in Alphabet during the 4th quarter worth about $4,071,353,000. Bank of New York Mellon Corp grew its holdings in Alphabet by 118,334.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,287,743 shares of the information services provider’s stock worth $3,968,570,000 after acquiring an additional 3,284,967 shares during the period. Finally, Rehmann Capital Advisory Group grew its holdings in Alphabet by 118,282.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,814,798 shares of the information services provider’s stock worth $2,137,263,000 after acquiring an additional 1,813,265 shares during the period. Institutional investors and hedge funds own 33.56% of the company’s stock.
NASDAQ GOOGL traded down $10.51 on Thursday, hitting $1,145.34. 1,084,155 shares of the company’s stock were exchanged, compared to its average volume of 1,655,459. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93. Alphabet has a 52 week low of $977.66 and a 52 week high of $1,296.97. The stock has a market capitalization of $801.46 billion, a PE ratio of 24.11, a PEG ratio of 1.36 and a beta of 1.03.
Alphabet Company Profile
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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