Alphabet Inc. (NASDAQ:GOOG) saw an upside of 0.64% to close Monday at $128.93 after adding $0.82 on the day. The 5-day average trading volume is 20,292,219 shares of the company’s common stock. It has gained $132.49 in the past week and touched a new high 2 times within the past 5 days. An average of 22,205,244 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 23,726,434.
GOOG’s 1-month performance is 7.16% or $8.62 on its low of $121.38 reached on 07/24/23. The company’s shares have touched a 52-week low of $83.45 and high of $134.07, with the stock’s rally to the 52-week high happening on 07/28/23. YTD, GOOG has achieved 45.31% or $40.20 and has reached a new high 27 times. However, the current price is down -3.83% from the 52-week high price.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
GOOG stock investors last saw insider trading activity on Aug 17.Alphabet Inc. (10% Owner) most recently sold 6,500,000 shares at $8.08 per share on Aug 17. This transaction cost the insider $52,526,500. Director, HENNESSY JOHN L, sold 200 shares at a price of $131.14 on Aug 10. Then, on Jul 28, Director ARNOLD FRANCES sold 230 shares at a price of $130.95 per share. This transaction amounted to $30,118.
Valuation Metrics
GOOG stock has a beta of 1.07. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.60 while the price-to-book (PB) in the most recent quarter is 6.10.
The firm’s gross profit as reported stood at $156.63 billion against revenue of $282.84 billion.
Earnings Surprise
Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 12.88% to $18.37 billion, while revenue of $15.05 billion was 18.06% off the previous quarter. EBITDA for the quarter stood at more than $25.23 billion. GOOG stock balance sheet for the recent quarter shows that total liabilities totaled 115.9 billion, with total debt at $29.43 billion. Shareholders hold equity totaling $12.61 billion.
Let’s look briefly at Alphabet Inc. (GOOG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 49.10% to suggest the stock is trending Neutral, with historical volatility in this time period at 16.38%.
The stock’s 5-day moving average is $129.38, reflecting a -2.20% or -$2.90 change from its current price. GOOG is currently trading +5.78% above its 20-day SMA, +27.20% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +5.10% and SMA200 by+42.46%.
Stochastic %K and %D was 32.42% and 31.86% and the average true range (ATR) pointed at 2.81. The RSI (14) points at 52.36%, while the 14-day stochastic is at 34.18% with the period’s ATR at 2.90. The stock’s 9-day MACD Oscillator is pointing at -0.75 and -0.76 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Alphabet Inc. (NASDAQ: GOOG), BofA Securities reiterated its a Buy rating for the company but lifted their price target by $116 to $119. Analysts offering their rating for GOOG stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate GOOG as a “sell,”, while 10 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 4 rates the stock as overweight while 40 have offered a “buy” rating.
What is GOOG’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $121.00 and a high of $200.00, with their median price target at $150.00. Looking at these predictions, the average price target given by analysts is for Alphabet Inc. (GOOG) stock is $149.95.
