Alphabet Inc. (NASDAQ:GOOG) finished Thursday with a subtraction of -$2.79 to close at $130.42, a downside of -2.09 percent. An average of 21,244,959 shares of common stock have been traded in the last five days. There was a fall of -$0.04 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 19,544,115 shares traded, while the 50-day average volume stands at 23,703,551.
GOOG stock has increased by 0.59% in the last month. The company shares reached their 1-month lowest point of $121.53 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 $83.45 and a high of $134.07 in 52 weeks. It has reached a new high 29 times so far this year and achieved 46.99% or $41.69 in price. In spite of this, the price is down -2.72% from the 52-week high.
Insider Transactions
GOOG stock investors should be aware that Alphabet Inc. (GOOG) 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. (GOOG) has a trailing price-to-earnings (P/E) ratio of 29.71. The stock’s beta is 1.06. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.66, the price-to-book (PB) ratio at 6.17.
Financial Health
Its gross profit as reported stood at $156.63 billion compared to revenue of $282.84 billion.
Earnings Surprise
For the recent quarter, Alphabet Inc. had $13.71 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 $18.37 billion in the quarter, while revenues were grew 12.88%. Shareholders own equity worth $12.61 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Alphabet Inc. (GOOG) price momentum. RSI 9-day as of the close on 24 August was 52.58%, suggesting the stock is Neutral, with historical volatility in this time frame at 24.02%.
As of today, GOOG’s price is $130.07 -0.03% or -$0.04 from its 5-day moving average. GOOG is currently trading +0.42% higher than its 20-day SMA and +25.40% higher than its 100-day SMA. However, the stock’s current price level is +4.81% above the SMA50 and +50.43% above the SMA200.
The stochastic %K and %D were 59.46% and 49.84%, respectively, and the average true range (ATR) was 3.10. With the 14-day stochastic at 42.91% and the average true range at 3.07, the RSI (14) stands at 54.14%. The stock has reached 0.88 on the 9-day MACD Oscillator while the 14-day reading was at 0.65.
Analyst Ratings
BofA Securities reiterated its a Buy rating on Alphabet Inc. (NASDAQ: GOOG), but raised their price target to $116, indicating a potential price decrease of -12.43% for the stock. The consensus rating for Alphabet Inc. (GOOG) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell GOOG, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 5 analysts, while 39 others rate it as a “buy”.
What is GOOG’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. (GOOG) stock is $149.97.
