Wells Fargo lifts Alphabet Inc. [GOOGL] price estimate. Who else is bullish?

Alphabet Inc. [NASDAQ: GOOGL] traded at a high on 11/11/22, posting a 2.63 gain after which it closed the day’ session at $96.41. The company report on November 3, 2022 that Zaid Kahn from Microsoft joins the Internet Ecosystem Innovation Committee (IEIC) Board.

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Over 35 digital infrastructure luminaries speaking at the second IEIC Global NAP Summit in Henrico, Virginia that will include the official ribbon cutting of DE-CIX Richmond.

The Internet Ecosystem Innovation Committee (IEIC), an independent global committee that promotes Internet diversity and resilience through the formation of new global Internet nexus points, today announced that Zaid Kahn from Microsoft has joined as a Board Member.

The results of the trading session contributed to over 32974346 shares changing hands. Over the past one week, the price volatility of Alphabet Inc. stands at 2.84% while the volatility over the past one month is 3.39%.

The market cap for GOOGL stock reached $1217.26 billion, with 6.86 billion shares outstanding and 5.90 billion shares in the current float. Compared to the average trading volume of 30.62M shares, GOOGL reached a trading volume of 32974346 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Alphabet Inc. [GOOGL]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GOOGL shares is $129.06 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GOOGL stock is a recommendation set at 1.80. 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.

Wells Fargo have made an estimate for Alphabet Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 27, 2022. While these analysts kept the previous recommendation, UBS dropped their target price from $133 to $132. The new note on the price target was released on July 27, 2022, representing the official price target for Alphabet Inc. stock. Previously, the target price had yet another drop from $150 to $145, while Truist kept a Buy rating on GOOGL stock. On July 27, 2022, analysts decreased their price target for GOOGL shares from 187.50 to 150.

The Average True Range (ATR) for Alphabet Inc. is set at 3.66, with the Price to Sales ratio for GOOGL stock in the period of the last 12 months amounting to 4.31. The Price to Book ratio for the last quarter was 4.95, with the Price to Cash per share for the same quarter was set at 9.21. Price to Free Cash Flow for GOOGL in the course of the last twelve months was 19.46 with Quick ratio for the last quarter at 2.50.

How has GOOGL stock performed recently?

Alphabet Inc. [GOOGL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.35. With this latest performance, GOOGL shares dropped by -2.68% in over the last four-week period, additionally sinking by -16.92% over the last 6 months – not to mention a drop of -33.86% 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 GOOGL stock in for the last two-week period is set at 52.43, with the RSI for the last a single of trading hit 57.82, and the three-weeks RSI is set at 49.51 for Alphabet Inc. [GOOGL]. The present Moving Average for the last 50 days of trading for this stock 98.78, while it was recorded at 91.01 for the last single week of trading, and 116.23 for the last 200 days.

Alphabet Inc. [GOOGL]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Alphabet Inc. [GOOGL] shares currently have an operating margin of +30.51 and a Gross Margin at +56.91. Alphabet Inc.’s Net Margin is presently recorded at +29.53.

Return on Equity for this stock inclined to 32.07, with Return on Assets sitting at 22.40.

Alphabet Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.50.

Earnings analysis for Alphabet Inc. [GOOGL]

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 GOOGL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Alphabet Inc. go to 8.95%.

Insider trade positions for Alphabet Inc. [GOOGL]

There are presently around $440,371 million, or 78.90% of GOOGL stock, in the hands of institutional investors. The top three institutional holders of GOOGL stocks are: VANGUARD GROUP INC with ownership of 472,450,260, which is approximately 1.365% of the company’s market cap and around 7.73% of the total institutional ownership; BLACKROCK INC., holding 415,661,680 shares of the stock with an approximate value of $40.07 billion in GOOGL stocks shares; and FMR LLC, currently with $23.16 billion in GOOGL stock with ownership of nearly 0.352% of the company’s market capitalization.

Positions in Alphabet Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 1,835 institutional holders increased their position in Alphabet Inc. [NASDAQ:GOOGL] by around 181,545,732 shares. Additionally, 1,654 investors decreased positions by around 231,951,731 shares, while 404 investors held positions by with 4,154,189,078 shares. The mentioned changes placed institutional holdings at 4,567,686,541 shares, according to the latest SEC report filing. GOOGL stock had 148 new institutional investments in for a total of 25,631,508 shares, while 165 institutional investors sold positions of 13,927,060 shares during the same period.


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