Additionally, about $3.40 of Alphabet's earnings per share were due to a new accounting method for unrealized gains in Alphabets investments.
Amazon is set to report first-quarter earnings on Thursday. The institutional investor owned 578 shares of the information services provider's stock after selling 165 shares during the quarter. Gilman Hill Asset Management LLC's holdings in Alphabet were worth $602,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Fulcrum Capital LLC acquired a new position in Alphabet during the fourth quarter worth $2,565,000. WP Advisors LLC grew its stake in shares of Alphabet by 2.9% in the second quarter.
According to the Recommendation Trends of the stock polled by Finviz, the company has a consensus recommendation of 1.6 out of the scale from 1 to 5, where 1 stands for Buy and 5 means Sell.
Several other analysts have also recently commented on the stock. Mizuho maintained the stock with "Buy" rating in Friday, February 2 report.
Shares of Alphabet were last seen down 5% at $1,016.80, with a consensus analyst price target of $1,275.12 and a 52-week range of $879.28 to $1,198.00.
Alphabet (NASDAQ:GOOGL) traded down 1.05% during mid-day trading on Friday, hitting $959.97.
Google's parent company Alphabet Inc exceeded analysts' expectations on Monday by reporting a 73% jump in year-on-year profits in the first three monrths of the year thanks to ad sales and lower taxes.
Deutsche Bank analysts lowered the price target for Class A shares of Alphabet to US$1,225 from US$1,375 but reiterate a Buy rating. $1261.25's average target is 24.25% above currents $1015.05 stock price. The stock has a market cap of $748,503.63, a PE ratio of 31.91, a P/E/G ratio of 1.15 and a beta of 1.05.
Alphabet Inc.is a vast and complicated company and its many, many divisions and subsidiaries make it hard to paint a holistic picture of the company's health.
Because Nest was rolled back into Google proper earlier this year, Alphabet recast its quarterly earnings figures for 2017 to account for the fact that Nest revenues and losses would be moved from the "Other Bets" section of Alphabet's business to the standard Google revenue line item. The Return on Equity (ROE) and Return on Investment values are 0 percent and 0 percent respectively. Analysts at Goldman Sachs estimate this bill could cut the ad revenue for Google by up to 2%. The same period from a year ago had $7.73 in EPS on $24.75 billion in revenue. The stock is now marginally in the green in pre-market activity. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.
Alphabet was one of the many casualties on Tuesday's Wall Street sell-off, with shares down 4.6% to US$1,018.57. The company has its outstanding shares of 692.98 Million.