Alphabet Inc. (NASDAQ:GOOGL) finished Thursday with a subtraction of -$2.59 to close at $129.78, a downside of -1.96 percent. An average of 26,828,240 shares of common stock have been traded in the last five days. There was a fall of -$0.14 in the past week, and it reached a new high 16 times over the past 12 months. The last 20 days have seen an average of 25,470,770 shares traded, while the 50-day average volume stands at 30,714,918.
GOOGL stock has increased by 0.39% in the last month. The company shares reached their 1-month lowest point of $121.02 on 07/25/23. With the stock rallying to its 52-week high on 08/24/23, shares of the company touched a low of $83.34 and a high of $133.74 in 52 weeks. It has reached a new high 31 times so far this year and achieved 47.09% or $41.55 in price. In spite of this, the price is down -2.96% from the 52-week high.
Insider Transactions
GOOGL stock investors should be aware that Alphabet Inc. (GOOGL) stock had its last reported insider trading activity 8 days ago on Aug 17. In this transaction, the insider spent $52,526,500. Director, HENNESSY JOHN L, disposed of 200 shares at a price of $131.14 on Aug 10. The insider now owns more than $26,227 worth of shares. Prior to that, Director ARNOLD FRANCES went on to Sale 230 shares at $130.95 each on Jul 28. An amount of $30,118 was transacted.
Valuation Metrics
Alphabet Inc. (GOOGL) has a trailing price-to-earnings (P/E) ratio of 28.42. The stock’s beta is 1.06. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.77, the price-to-book (PB) ratio at 6.15, and the price-to-cash flow ratio at 23.51.
Financial Health
The quick ratio of Alphabet Inc. for the three months ended June 29 was 2.10, and the current ratio was 2.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.05 and a total debt to equity ratio of 0.05 for the quarter ending June 29. Its gross profit as reported stood at $156.63 billion compared to revenue of $282.84 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Alphabet Inc.’s return on assets was 16.50%.
Earnings Surprise
For the three-month period that ended June 29, Alphabet Inc. had $13.93 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $15.23 billion in the quarter, while revenues of $11.25 billion were grew 29.92%. The analyst consensus anticipated Alphabet Inc.’s latest quarter earnings to come in at $1.34 per share, but it turned out to be $1.44, a 7.50% surprise. For the quarter, EBITDA amounted to $25.23 billion. Shareholders own equity worth $12.61 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Alphabet Inc. (GOOGL) price momentum. RSI 9-day as of the close on 24 August was 52.33%, suggesting the stock is Neutral, with historical volatility in this time frame at 23.39%.
As of today, GOOGL’s price is $129.41 -0.11% or -$0.14 from its 5-day moving average. GOOGL is currently trading +0.29% higher than its 20-day SMA and +25.11% higher than its 100-day SMA. However, the stock’s current price level is +4.80% above the SMA50 and +49.90% above the SMA200.
The stochastic %K and %D were 58.66% and 49.31%, respectively, and the average true range (ATR) was 3.11. With the 14-day stochastic at 43.18% and the average true range at 3.09, the RSI (14) stands at 53.99%. The stock has reached 0.77 on the 9-day MACD Oscillator while the 14-day reading was at 0.51.
Analyst Ratings
Wedbush launched coverage on Alphabet Inc. (NASDAQ: GOOGL) in its analyst report released on August 22, 2023. The firm assigned the stock an Outperform rating. The consensus rating for Alphabet Inc. (GOOGL) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell GOOGL, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 5 analysts, while 40 others rate it as a “buy”.
What is GOOGL’s price target for the next 12 months?
Analysts predict a range of price targets between $121.00 and $200.00, with a median target of $150.00. Taking a look at these predictions, the average price target given by analysts for Alphabet Inc. (GOOGL) stock is $150.04.
