The stock of Alphabet Inc. (NASDAQ:GOOG) increased by $1.66 on Monday to finish at $131.83, up 1.28 percent. The last five days have seen an average of 17,033,641 shares of common stock traded. 27 times new highs were reached in the current year, with a gain of $43.10. The average number of shares traded over the last 20 days was 24,619,865, while the average volume over the last 50 days totaled 24,106,896.
GOOG stock appreciated 4.88% since last month. On 07/20/23, the company’s shares reached a one-month low of $118.68. The stock touched a high of $134.07 on 07/28/23, after rallying from a low of $83.45 in 52 weeks. The price of GOOG stock has risen by 48.57% or $43.10 this year, reaching a new high 27 times. Still, the stock price is down -1.67% from the 52-week high.
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Insider Transactions
GOOG stock investors should be aware that Alphabet Inc. (GOOG) stock had its last reported insider trading activity 5 days ago on Aug 10. On Aug 10, Director HENNESSY JOHN L sold 200 shares at $131.14 each. This transaction resulted in the insider making $26,227. On Jul 28, ARNOLD FRANCES sold 230 shares at a price of US$130.95. After the transaction, the insider now owns 13,329 shares. Director MATHER ANN had earlier sold 220 shares on Jul 25 for $121.75 a share. The transaction was completed for $26,785.
Valuation Metrics
Alphabet Inc. (GOOG) has a trailing price-to-earnings (P/E) ratio of 30.03. Beta for the stock is 1.07. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.73, the price-to-book (PB) ratio of 6.23.
Financial Health
Based on annual data, it had gross profit of $156.63 billion and revenue of $282.84 billion.
Earnings Surprise
According to Alphabet Inc.’s quarterly financial report for the quarter that ended June 29, it had $13.71 billion in total debt versus $92.4 billion in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $74.6 billion, while revenues rose by 6.59% to $69.79 billion. It was predicted that Alphabet Inc.’s quarterly earnings would be $1.44, but it ended up being $1.34, beating the consensus by 7.50%. EBITDA was $25.23 billion for the quarter. At the end of Alphabet Inc.’s most recent quarter ended June 29, its liabilities totaled 115.9 billion, while its total debt was $29.43 billion. Equity owned by shareholders amounts to $12.61 billion.
Technical Picture
Here’s a quick look at Alphabet Inc.’s (GOOG) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 63.41%, suggesting the stock is Neutral, with a 21.40% historical volatility rate.
The stochastic %K and %D were 67.63% and 71.58% respectively, while the average true range (ATR) was 2.88. Based on the 14-day stochastic reading of 64.42%, the RSI (14) reading is 61.64%. On the 9-day MACD Oscillator, the stock is at 0.50, and the 14-day reading is at 0.05.
Analyst Ratings
In a note to investors, BofA Securities maintained its a Buy rating on Alphabet Inc. (NASDAQ: GOOG). However, the firm raised their price target to $119, indicating a possible decrease of -13.65% in the stock price. Analysts have assigned Alphabet Inc. (GOOG) an Buy rating. GOOG is a stock that is recommended for selling by 0 brokerage firms, while 10 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 4 rates it overweight and 39 others recommend it as a buy.
What is GOOG’s price target for the next 12 months?
The current consensus forecast for the stock is between $121.00 and $200.00, with a median target price of $150.00. In analyzing these forecasts, the average price target given by analysts for Alphabet Inc. (GOOG) is $149.74.
