In the last trading session on June 10, 2024, Alphabet Inc (NASDAQ-GOOGL) closed the stock at $176.63, up +0.39% from the previous day. The company’s shares have risen 3.32% over the past month, underperforming the Computer and Technology sector’s gain of 6.38% and outperforming the S&P 500 index’s gain of 3.25%.
Alphabet Inc.’s upcoming Q2 2024 earnings release will be of great interest to investors. Multinational investment firms expect the company to report earnings per share of $1.87, up 29.86% from the previous quarter. Estimates for second-quarter revenue are around $70.55 billion, up 13.67% from the same quarter in the previous year. Full-year estimates from Zacks Consensus Estimates, a leading investment, research, analysis and recommendation firm, predict the stock to post earnings of around $7.69 per share and revenue of around $291.26 billion.
Alphabet Inc. also announced that Anat Ashkenazi, who is CFO and Vice President of Eli Lilly Company, will join the management team as CFO and Senior Vice President at Google and Alphabet on July 31, 2024. Anat joined Eli Lilly in 2001 and has had a rich career spanning finance, strategy and operations roles. Anat holds an MBA from Tel Aviv University and a BA in Economics and Business Administration from Hebrew University.
The company also pays a regular quarterly dividend to its investors, which currently has a dividend yield of 0.4%. The actual dividend was approved by the Company’s Annual General Meeting at $0.20 per share. According to Multinational Investment Corporation, the share price of Alphabet Inc (NASDAQ-GOOGL), can be expected to be in a bull market trend, i.e. an uptrend in the share price. The average target price for the short- to medium-term investment horizon was set at $197.53 per share.
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