Alphabet Inc. [NASDAQ: GOOG] gained 0.87% or 13.81 points to close at $1604.26 with a heavy trading volume of 1210149 shares. The company report on September 15, 2020 that S&P 500 Buybacks Decline 55.4% to $88.7 Billion; Significant Reductions Expected to continue in Q3 2020.
— Q2 2020 share repurchases were $88.7 billion – the lowest since March 2012 and a 55.4% decline from Q1 2020 and 46.4% decline from Q2 2019.
— 252 issues reported little or no buybacks for the quarter, compared to 105 in Q1 2020 and 133 in Q2 2019.
It opened the trading session at $1,595.67, the shares rose to $1,606.845 and dropped to $1,582.78, the range by which the price of stock traded the whole day. The daily chart for GOOG points out that the company has recorded 19.59% gains over the past six months. However, it is still -58.28% lower than its most recent low trading price.
If we look at the average trading volume of 1.80M shares, GOOG reached to a volume of 1210149 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Alphabet Inc. [GOOG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GOOG shares is $1719.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GOOG stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Pivotal Research Group have made an estimate for Alphabet Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 31, 2020. While these analysts kept the previous recommendation, Deutsche Bank raised their target price from $1700 to $1975. The new note on the price target was released on July 28, 2020, representing the official price target for Alphabet Inc. stock. Previously, the target price had yet another raise from $1425 to $1575, while Pivotal Research Group kept a Buy rating on GOOG stock.
The Average True Range (ATR) for Alphabet Inc. is set at 40.56, with the Price to Sales ratio for GOOG stock in the period of the last 12 months amounting to 6.63. The Price to Book ratio for the last quarter was 5.27.
Trading performance analysis for GOOG stock
Alphabet Inc. [GOOG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.11. With this latest performance, GOOG shares gained by 9.54% in over the last four-week period, additionally plugging by 19.59% over the last 6 months – not to mention a rise of 24.36% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GOOG stock in for the last two-week period is set at 56.73, with the RSI for the last a single of trading hit 60.23, and the three-weeks RSI is set at 56.99 for Alphabet Inc. [GOOG]. The present Moving Average for the last 50 days of trading for this stock 1,544.90, while it was recorded at 1,608.87 for the last single week of trading, and 1,424.62 for the last 200 days.
Alphabet Inc. [GOOG]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Alphabet Inc. [GOOG] shares currently have an operating margin of +21.98 and a Gross Margin at +55.46. Alphabet Inc.’s Net Margin is presently recorded at +21.28.
Return on Total Capital for GOOG is now 17.78, given the latest momentum, and Return on Invested Capital for the company is 17.26. Return on Equity for this stock inclined to 18.12, with Return on Assets sitting at 13.50. When it comes to the capital structure of this company, Alphabet Inc. [GOOG] has a Total Debt to Total Equity ratio set at 7.93. Additionally, GOOG Total Debt to Total Capital is recorded at 7.34, with Total Debt to Total Assets ending up at 5.79. Long-Term Debt to Equity for the company is recorded at 7.33, with the Long-Term Debt to Total Capital now at 6.79.
Reflecting on the efficiency of the workforce at the company, Alphabet Inc. [GOOG] managed to generate an average of $288,842 per employee. Receivables Turnover for the company is 6.63 with a Total Asset Turnover recorded at a value of 0.63.
Alphabet Inc. [GOOG]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Alphabet Inc. posted 10.12/share EPS, while the average EPS was predicted by analysts to be reported at 12.46/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -18.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GOOG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Alphabet Inc. go to 4.81%.
An analysis of insider ownership at Alphabet Inc. [GOOG]
There are presently around $356,766 million, or 70.62% of GOOG stock, in the hands of institutional investors. The top three institutional holders of GOOG stocks are: VANGUARD GROUP INC with ownership of 22,636,989, which is approximately -2.271% of the company’s market cap and around 5.75% of the total institutional ownership; BLACKROCK INC., holding 20,335,553 shares of the stock with an approximate value of $32.62 billion in GOOG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $19.83 billion in GOOG stock with ownership of nearly -1.292% of the company’s market capitalization.
Positions in Alphabet Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 1,099 institutional holders increased their position in Alphabet Inc. [NASDAQ:GOOG] by around 5,834,783 shares. Additionally, 1,243 investors decreased positions by around 11,615,315 shares, while 376 investors held positions by with 204,936,736 shares. The mentioned changes placed institutional holdings at 222,386,834 shares, according to the latest SEC report filing. GOOG stock had 135 new institutional investments in for a total of 462,537 shares, while 78 institutional investors sold positions of 611,955 shares during the same period.