As of Wednesday close, Alphabet Inc.’s (NASDAQ:GOOG) stock was down -$4.24, moving down -3.05 percent to $134.59. The average number of shares traded per day over the past five days has been 24,243,000 shares. 2 times new highs have been achieved over the past 5 days, with a -$2.91 fall in that time frame. In the last twenty days, the average volume was 20,915,525, while in the previous 50 days, it was 22,450,170.
Since last month, GOOG stock rose 4.39%. Shares of the company fell to $127.16 on 08/21/23, the lowest level in the past month. A 52-week high of $139.93 was reached on 09/18/23 after having rallying from a 52-week low of $83.45. Since the beginning of this year, GOOG’s stock price has risen by 51.68% or $45.86, and marked a new high 34 times. However, the stock has declined by -3.82% since its 52-week high.
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GOOG stock investors should be aware that Alphabet Inc. (GOOG) stock had its last reported insider trading activity 10 days ago on Sep 11. HENNESSY JOHN L, the Director of the company, disposed of 200 shares for $137.30 on Sep 11. It resulted in a $27,460 divestment by the insider. WALKER JOHN KENT sold 42,900 shares at an average price of $136.51 on Sep 05. The insider now owns 10,383 shares following the transaction. On Sep 05, VP, Chief Accounting Officer O’Toole Amie Thuener sold 3,749 shares at $136.28 apiece. The transaction was valued at $510,914.
Valuation Metrics
Right now, Alphabet Inc. (GOOG) has a P/E ratio of about 27.81. The stock’s beta is 1.06. Besides these, the trailing price-to-sales (P/S) ratio of 5.84, the price-to-book (PB) ratio of 6.36.
Financial Health
Based on annual data, GOOG earned $156.63 billion in gross profit and brought in $282.84 billion in revenue.
In Alphabet Inc.’s quarter-end financial report for June 29, it reported total debt of $13.71 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. GOOG’s revenue rose 6.59% to $69.79 billion during the quarter, while net income inched up to $74.6 billion. While analysts expected Alphabet Inc. to report $1.34 quarterly earnings, the actual figure was $1.44 per share, beating the consensus estimate by 7.50%. During the quarter, the company generated $25.23 billion in EBITDA. The liabilities of Alphabet Inc. were 115.9 billion at the end of its most recent quarter ended June 29, and its total debt was $29.43 billion. The value of shareholders’ equity is $12.61 billion.
Technical Picture
This quick technical analysis looks at Alphabet Inc.’s (GOOG) price momentum. With a historical volatility rate of 20.04%, the RSI 9-day stood at 42.84% on 20 September.
With respect to its five-day moving average, the current Alphabet Inc. price is down by -2.12% percent or -$2.91. At present, GOOG shares trade +3.78% above its 20-day simple moving average and +24.19% percent above its 100-day simple moving average. However, the stock is currently trading approximately +14.34% above its SMA50 and +32.89% above its SMA200.
Stochastic coefficient K was 59.39% and Stochastic coefficient D was 77.58%, while ATR was 2.59. Given the Stochastic reading of 10.55% for the 14-day period, the RSI (14) reading has been calculated as 49.68%. As of today, the MACD Oscillator reading stands at -0.12, while the 14-day reading stands at 0.27.
Analyst Ratings
BofA Securities reiterated its a Buy rating on Alphabet Inc. (NASDAQ: GOOG) in a note to investors. The analysts firm has however raised their price target to $119, representing a possible -16.03% increase in the stock price. Alphabet Inc. (GOOG) has been rated Buy by analysts. According to 0 brokerage firms, GOOG is a sell, and 10 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 5 analysts rate Alphabet Inc. stock as buy, with 39 recommending it as overweight.
With a median target price of $150.00, the current consensus forecast for the stock is $121.00 – $200.00. Based on these forecasts, analysts predict Alphabet Inc. (GOOG) will achieve an average price target of $149.58.
