Alphabet Inc. [GOOG] Stock trading around $89.35 per share: What’s Next?

Alphabet Inc. [NASDAQ: GOOG] slipped around -1.72 points on Friday, while shares priced at $89.35 at the close of the session, down -1.89%.

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Alphabet Inc. stock is now 0.70% up from its year-to-date (YTD) trading value. GOOG Stock saw the intraday high of $90.13 and lowest of $88.86 per share. The company’s 52-week high price is 144.16, which means current price is +4.42% above from all time high which was touched on 02/02/23.

Compared to the average trading volume of 29.23M shares, GOOG reached a trading volume of 29865887 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. [GOOG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GOOG shares is $123.80 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.

BofA Securities have made an estimate for Alphabet Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 31, 2023. While these analysts kept the previous recommendation, Credit Suisse dropped their target price from $140 to $134. The new note on the price target was released on October 11, 2022, representing the official price target for Alphabet Inc. stock. Previously, the target price had yet another drop from $165 to $140, while MKM Partners kept a Buy rating on GOOG stock. On July 13, 2022, analysts decreased their price target for GOOG shares from 3200 to 3000.

The Average True Range (ATR) for Alphabet Inc. is set at 3.15, with the Price to Sales ratio for GOOG stock in the period of the last 12 months amounting to 4.04. The Price to Book ratio for the last quarter was 4.48.

How has GOOG stock performed recently?

Alphabet Inc. [GOOG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.71. With this latest performance, GOOG shares dropped by -7.63% in over the last four-week period, additionally sinking by -22.10% over the last 6 months – not to mention a drop of -29.97% 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 37.99, with the RSI for the last a single of trading hit 30.90, and the three-weeks RSI is set at 41.78 for Alphabet Inc. [GOOG]. The present Moving Average for the last 50 days of trading for this stock 94.23, while it was recorded at 91.77 for the last single week of trading, and 103.74 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Alphabet Inc. [GOOG] shares currently have an operating margin of +25.95 and a Gross Margin at +55.07. Alphabet Inc.’s Net Margin is presently recorded at +21.35.

Return on Equity for this stock inclined to 23.62, with Return on Assets sitting at 16.55.

Earnings analysis for Alphabet Inc. [GOOG]

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 15.51%.

Insider trade positions for Alphabet Inc. [GOOG]

There are presently around $327,515 million, or 63.48% of GOOG stock, in the hands of institutional investors. The top three institutional holders of GOOG stocks are: VANGUARD GROUP INC with ownership of 422,660,991, which is approximately 0.111% of the company’s market cap and around 0.02% of the total institutional ownership; BLACKROCK INC., holding 364,696,971 shares of the stock with an approximate value of $32.59 billion in GOOG stocks shares; and STATE STREET CORP, currently with $17.4 billion in GOOG stock with ownership of nearly -1.121% of the company’s market capitalization.

Positions in Alphabet Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 1,504 institutional holders increased their position in Alphabet Inc. [NASDAQ:GOOG] by around 128,608,861 shares. Additionally, 1,643 investors decreased positions by around 231,884,161 shares, while 442 investors held positions by with 3,305,040,430 shares. The mentioned changes placed institutional holdings at 3,665,533,452 shares, according to the latest SEC report filing. GOOG stock had 272 new institutional investments in for a total of 15,857,504 shares, while 147 institutional investors sold positions of 17,802,120 shares during the same period.


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