The stock of Alphabet Inc. (NASDAQ:GOOGL) increased by $1.13 on Monday to finish at $131.01, up 0.87 percent. The last five days have seen an average of 25,138,760 shares of common stock traded. 31 times new highs were reached in the current year, with a gain of $42.78. The average number of shares traded over the last 20 days was 24,603,740, while the average volume over the last 50 days totaled 30,344,270.
GOOGL stock dropped -1.18% since last month. On 08/18/23, the company’s shares reached a one-month low of $126.38. The stock touched a high of $134.25 on 08/24/23, after rallying from a low of $83.34 in 52 weeks. The price of GOOGL stock has risen by 48.49% or $42.78 this year, reaching a new high 31 times. Still, the stock price is down -2.41% from the 52-week high.
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Insider Transactions
GOOGL stock investors should be aware that Alphabet Inc. (GOOGL) stock had its last reported insider trading activity 12 days ago on Aug 17. On Aug 17, 10% Owner Alphabet Inc. sold 6,500,000 shares at $8.08 each. This transaction resulted in the insider making $52,526,500. On Aug 10, HENNESSY JOHN L sold 200 shares at a price of US$131.14. After the transaction, the insider now owns 5,340 shares. Director ARNOLD FRANCES had earlier sold 230 shares on Jul 28 for $130.95 a share. The transaction was completed for $30,118.
Valuation Metrics
Alphabet Inc. (GOOGL) has a trailing price-to-earnings (P/E) ratio of 28.69. Beta for the stock is 1.06. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.71, the price-to-book (PB) ratio of 6.21, and the price-to-cash flow ratio of 23.27.
Financial Health
For the three months ended June 29, Alphabet Inc.’s quick ratio was 2.10, while its current ratio was 2.20, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.05, and the total debt to equity ratio is 0.05. As far as profitability goes, gross margin for the trailing twelve months is 55.70% percent. Alphabet Inc.’s EBITDA margin for the year ended June 29 was 31.62%, whereas its operating margin stood at 25.70% for the same period. Based on annual data, it had gross profit of $156.63 billion and revenue of $282.84 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. GOOGL’s return on assets (ROA) during the last 12 months has been 16.50%. There was a 23.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 23.50%.
Earnings Surprise
According to Alphabet Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $56.9 billion, while revenues rose by 19.02% to $46.17 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 (GOOGL) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 56.82%, suggesting the stock is Neutral, with a 21.77% historical volatility rate.
The stochastic %K and %D were 48.82% and 55.03% respectively, while the average true range (ATR) was 3.10. Based on the 14-day stochastic reading of 58.82%, the RSI (14) reading is 56.72%. On the 9-day MACD Oscillator, the stock is at 0.60, and the 14-day reading is at 0.47.
Analyst Ratings
In its analyst report released on August 22, 2023, Wedbush began covering Alphabet Inc. (NASDAQ: GOOGL). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned Alphabet Inc. (GOOGL) an Buy rating. GOOGL 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, 5 rates it overweight and 40 others recommend it as a buy.
What is GOOGL’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. (GOOGL) is $150.04.
