Alphabet Inc (GOOG) reported quarterly earnings results on Thursday, Apr-21-2016. The company reported $7.50 earnings per share for the quarter, missing the analyst consensus estimate by $-0.46. Analysts had a consensus of $7.96. The company posted revenue of $20257.00 million in the period, compared to analysts expectations of $20380.20 million. The company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.57 EPS.
Many Wall Street Analysts have commented on Alphabet Inc. Company shares were Upgraded by Pivotal Research Group on Apr 11, 2016 to ” Buy”, Firm has raised the Price Target to $ 970 from a previous price target of $800 .Company shares were Reiterated by UBS on Apr 6, 2016 to “Buy”, Firm has raised the Price Target to $ 880 from a previous price target of $875 .Company shares were Reiterated by Needham on Feb 2, 2016 to “Buy”, Firm has raised the Price Target to $ 910 from a previous price target of $830 .
Alphabet Inc opened for trading at $760.46 and hit $768.05 on the upside on Monday, eventually ending the session at $766.61, with a gain of 1.00% or 7.61 points. The heightened volatility saw the trading volume jump to 15,58,848 shares. Company has a market cap of $527,673 M.
In a different news, on Apr 20, 2016, Sundar Pichai (CEO, Google Inc.) sold 4,000 shares at $768.53 per share price. According to the SEC, on Apr 12, 2016, David C Drummond (SVP, Corporate Development) sold 5,000 shares at $748.22 per share price. On Apr 6, 2016, Sergey Brin (President) sold 33,340 shares at $757.08 per share price, according to the Form-4 filing with the securities and exchange commission.
Alphabet Inc (Alphabet) is a collection of Companies. The Companys collection include Calico Googles health and longevity effort; Nest its connected home business; Fiber its gigabit internet arm; and its investment divisions such as Google Ventures and Google Capital and incubator projects such as Google X. These will be managed separately in Alphabet. On October 2 2015 Google implemented a holding company reorganization pursuant to the Agreement and Plan of Merger (the Merger Agreement) dated as of October 2 2015 among Google Alphabet and Maple Technologies Inc. a Delaware corporation (Merger Sub) which resulted in Alphabet owning all of the outstanding capital stock of Google. Pursuant to the Alphabet Merger Merger Sub a direct wholly owned subsidiary of Alphabet and an indirect wholly owned subsidiary of Google merged with and into Google with Google surviving as a direct wholly owned subsidiary of Alphabet.