The stock of Alphabet Inc. (NASDAQ:GOOG) increased by $1.1 on Monday to finish at $131.79, up 0.84 percent. The last five days have seen an average of 19,628,000 shares of common stock traded. 29 times new highs were reached in the current year, with a gain of $43.06. The average number of shares traded over the last 20 days was 19,146,145, while the average volume over the last 50 days totaled 23,467,887.
GOOG stock dropped -0.92% since last month. On 08/18/23, the company’s shares reached a one-month low of $127.00. The stock touched a high of $134.97 on 08/24/23, after rallying from a low of $83.45 in 52 weeks. The price of GOOG stock has risen by 48.53% or $43.06 this year, reaching a new high 29 times. Still, the stock price is down -2.36% 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 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. (GOOG) has a trailing price-to-earnings (P/E) ratio of 27.80. 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 5.72, 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. 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 $1.33, but it ended up being $1.24, beating the consensus by 7.30%. 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 28 August, the RSI 9-day stood at 57.34%, suggesting the stock is Neutral, with a 22.54% historical volatility rate.
The stochastic %K and %D were 49.77% and 56.08% respectively, while the average true range (ATR) was 3.07. Based on the 14-day stochastic reading of 60.10%, the RSI (14) reading is 57.09%. On the 9-day MACD Oscillator, the stock is at 0.70, and the 14-day reading is at 0.61.
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 -13.61% 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, 5 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 $149.97.
