Alphabet Inc (NASDAQ:GOOG) finished Thursday with an addition of $1.67 to close at $133.13, an upside of 1.27 percent. An average of 17,869,879 shares of common stock have been traded in the last five days. There was a gain of $1.77 in the past week, and it reached a new high 32 times over the past 12 months. The last 20 days have seen an average of 19,728,551 shares traded, while the 50-day average volume stands at 21,915,219.
GOOG stock has decreased by -1.74% in the last month. The company shares reached their 1-month lowest point of $128.19 on 09/26/23. With the stock rallying to its 52-week high on 09/18/23, shares of the company touched a low of $83.45 and a high of $139.93 in 52 weeks. It has reached a new high 34 times so far this year and achieved 50.04% or $44.40 in price. In spite of this, the price is down -4.86% 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 1 day ago on Sep 28. In this transaction, the insider spent $31,404. President, Global Affairs, CLO, WALKER JOHN KENT, disposed of 35,799 shares at a price of $130.54 on Sep 27. The insider now owns more than $4,673,130 worth of shares. Prior to that, Director MATHER ANN went on to Sale 220 shares at $130.89 each on Sep 25. An amount of $28,796 was transacted.
Valuation Metrics
Alphabet Inc (GOOG) has a trailing price-to-earnings (P/E) ratio of 28.16. The stock’s beta is 1.06. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.83, the price-to-book (PB) ratio at 6.29, and the price-to-cash flow ratio at 23.61.
Financial Health
The quick ratio of Alphabet Inc for the three months ended June 30 was 2.14, and the current ratio was 2.17, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.10 and a total debt to equity ratio of 0.11 for the quarter ending June 30. Alphabet Inc’s EBITDA margin for the year ending June 30 is 31.62%, while its operating margin for the same period stands at 26.08%. Its gross profit as reported stood at $156.63 billion compared to revenue of $282.84 billion.
Earnings Surprise
For the three-month period that ended June 30, 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%. The analyst consensus anticipated Alphabet Inc’s latest quarter earnings to come in at $1.34 per share, but it turned out to be $1.44, a 7.50% surprise. For the quarter, EBITDA amounted to $25.23 billion. 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 28 September was 47.25%, suggesting the stock is Neutral, with historical volatility in this time frame at 25.10%.
As of today, GOOG’s price is $131.49 +1.35% or $1.77 from its 5-day moving average. GOOG is currently trading -2.78% lower than its 20-day SMA and +25.34% higher than its 100-day SMA. However, the stock’s current price level is +8.43% above the SMA50 and +43.04% above the SMA200.
The stochastic %K and %D were 26.89% and 20.12%, respectively, and the average true range (ATR) was 2.81. With the 14-day stochastic at 42.08% and the average true range at 2.79, the RSI (14) stands at 48.91%. The stock has reached -2.12 on the 9-day MACD Oscillator while the 14-day reading was at -3.64.
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 -14.77% 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 9 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 $150.12.
