Alphabet Inc (NASDAQ: GOOG) has a higher price-to-earnings ratio of 26.64x compared to its average ratio, The 36-month beta value for GOOG is at 1.04. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 2 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for GOOG is 5.27B, and currently, shorts hold a 0.70% of that float. The average trading volume for GOOG on April 29, 2024 was 23.17M shares.
GOOG) stock’s latest price update
Alphabet Inc (NASDAQ: GOOG) has seen a rise in its stock price by 9.97 in relation to its previous close of 157.95. However, the company has experienced a 11.54% gain in its stock price over the last five trading sessions. PYMNTS reported 2024-04-28 that Google has accused the federal government of fabricating a market for its antitrust suit against the tech giant. Despite this, the Department of Justice (DOJ) has not shown that Google commands a 70% share of the online advertising market, the company said in a court filing asking a judge to summarily dismiss the suit.
GOOG’s Market Performance
Alphabet Inc (GOOG) has experienced a 11.54% rise in stock performance for the past week, with a 14.31% rise in the past month, and a 12.94% rise in the past quarter. The volatility ratio for the week is 2.40%, and the volatility levels for the past 30 days are at 2.10% for GOOG. The simple moving average for the past 20 days is 10.70% for GOOG’s stock, with a 24.90% simple moving average for the past 200 days.
Analysts’ Opinion of GOOG
Many brokerage firms have already submitted their reports for GOOG stocks, with Oppenheimer repeating the rating for GOOG by listing it as a “Outperform.” The predicted price for GOOG in the upcoming period, according to Oppenheimer is $185 based on the research report published on April 08, 2024 of the current year 2024.
Raymond James, on the other hand, stated in their research note that they expect to see GOOG reach a price target of $150. The rating they have provided for GOOG stocks is “Outperform” according to the report published on December 20th, 2023.
BofA Securities gave a rating of “Buy” to GOOG, setting the target price at $119 in the report published on January 31st of the previous year.
GOOG Trading at 17.03% from the 50-Day Moving Average
After a stumble in the market that brought GOOG to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 7.41% of gains for the given period.
Volatility was left at 2.10%, however, over the last 30 days, the volatility rate increased by 2.40%, as shares surge +14.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +18.04% upper at present.
During the last 5 trading sessions, GOOG rose by +11.54%, which changed the moving average for the period of 200-days by +45.20% in comparison to the 20-day moving average, which settled at $157.98. In addition, Alphabet Inc saw 23.25% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GOOG starting from HENNESSY JOHN L, who sale 2,100 shares at the price of $175.76 back on Apr 26 ’24. After this action, HENNESSY JOHN L now owns 5,891 shares of Alphabet Inc, valued at $369,096 using the latest closing price.
Pichai Sundar, the Chief Executive Officer of Alphabet Inc, sale 22,500 shares at $157.41 during a trade that took place back on Apr 17 ’24, which means that Pichai Sundar is holding 2,303,011 shares at $3,541,763 based on the most recent closing price.
Stock Fundamentals for GOOG
Current profitability levels for the company are sitting at:
- 0.29 for the present operating margin
- 0.57 for the gross margin
The net margin for Alphabet Inc stands at 0.26. The total capital return value is set at 0.28. Equity return is now at value 29.76, with 21.22 for asset returns.
Based on Alphabet Inc (GOOG), the company’s capital structure generated 0.05 points at debt to capital in total, while cash flow to debt ratio is standing at 7.26. The debt to equity ratio resting at 0.05. The interest coverage ratio of the stock is 410.75.
Currently, EBITDA for the company is 96.24 billion with net debt to EBITDA at 0.04. When we switch over and look at the enterprise to sales, we see a ratio of 6.76. The receivables turnover for the company is 7.14for trailing twelve months and the total asset turnover is 0.78. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.15.
Conclusion
In conclusion, Alphabet Inc (GOOG) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
