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.
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.
