Google parent Alphabet posted Q3 2020 EPS that beat analysts’ estimates by a wide margin. Both total revenue and cloud revenue also surpassed expectations. Net income, revenue, and cloud revenue all rose compared to the year-ago quarter driven by increased advertising spend.
Among top stocks within the IBD 50, our pick for today’s best stock to buy and watch is Google parent company Alphabet’s stock, which is currently building a flat base with a new buy point. Alphabet stock features a strong IBD Composite Rating of 95, alongside an Earnings Per Share Rating of 93.
Google (Alphabet) has never paid out any cash dividend to shareholders. It did use cash buybacks instead of dividends, which is just another way how a company can return money to its shareholders.
Alphabet has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Tuesday, April 27th, 2021 based off prior year’s report dates.
Morgan Stanley upped its price target on the stock to $2,350 to $2,036 and would mark a new all-time high.
Newton Advisors founder and President Mark Newton told CNBC on Thursday the following.
“I like Alphabet as being the preeminent stock in the FANG group and one to still favor for the weeks and the months to come,” Newton said, referring to the popular acronym used for Facebook, Amazon, Netflix and Google’s parent Alphabet.
The New York Times cites estimates that there are 1,000 Google employees whose stock grants and options are worth more than $5 million. So there are more than 1,000 Google millionaires, including Google’s former masseuse, Bonnie Brown.
CWEB Analyst see Google stock as a safe bet for long term growth and a great addition to one’s portfolio and upward of $3000 by 2021