Alphabet Inc. [GOOG] Stock trading around $89.81 per share: What’s Next?

Alphabet Inc. [NASDAQ: GOOG] gained 1.76% on the last trading session, reaching $89.81 price per share at the time. The company report on December 20, 2022 that Purpose Investments Debuts Yield Shares, the World’s First Yield-Focused Single-Stock ETFs.

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Alphabet Inc. represents 6.09 billion in outstanding shares, while the company has a total market value of $1158.43 billion with the latest information. GOOG stock price has been found in the range of $87.62 to $90.10.

If compared to the average trading volume of 27.24M shares, GOOG reached a trading volume of 17799464 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 $132.15 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 1.50. 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.

Credit Suisse have made an estimate for Alphabet Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 11, 2022. While these analysts kept the previous recommendation, MKM Partners dropped their target price from $165 to $140. The new note on the price target was released on July 18, 2022, representing the official price target for Alphabet Inc. stock. Previously, the target price had yet another drop from $3200 to $3000, while Cowen kept a Outperform rating on GOOG stock.

The Average True Range (ATR) for Alphabet Inc. is set at 2.71, with the Price to Sales ratio for GOOG stock in the period of the last 12 months amounting to 4.11. The Price to Book ratio for the last quarter was 4.59.

Trading performance analysis for GOOG stock

Alphabet Inc. [GOOG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.16. With this latest performance, GOOG shares dropped by -9.12% in over the last four-week period, additionally sinking by -22.99% over the last 6 months – not to mention a drop of -38.96% 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 40.45, with the RSI for the last a single of trading hit 38.38, and the three-weeks RSI is set at 42.05 for Alphabet Inc. [GOOG]. The present Moving Average for the last 50 days of trading for this stock 95.20, while it was recorded at 89.42 for the last single week of trading, and 110.95 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 +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. [GOOG]: An earnings per share (EPS) analysis

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 8.95%.

An analysis of insider ownership at Alphabet Inc. [GOOG]

There are presently around $337,890 million, or 63.33% of GOOG stock, in the hands of institutional investors. The top three institutional holders of GOOG stocks are: VANGUARD GROUP INC with ownership of 422,194,039, which is approximately -0.725% of the company’s market cap and around 0.04% of the total institutional ownership; BLACKROCK INC., holding 364,589,580 shares of the stock with an approximate value of $32.74 billion in GOOG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $18.27 billion in GOOG stock with ownership of nearly -6.468% 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 1,516 institutional holders increased their position in Alphabet Inc. [NASDAQ:GOOG] by around 88,872,873 shares. Additionally, 1,484 investors decreased positions by around 199,975,592 shares, while 488 investors held positions by with 3,473,426,318 shares. The mentioned changes placed institutional holdings at 3,762,274,783 shares, according to the latest SEC report filing. GOOG stock had 120 new institutional investments in for a total of 21,128,637 shares, while 143 institutional investors sold positions of 14,929,882 shares during the same period.


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