Alphabet Inc. [NASDAQ: GOOG] gained 0.73% or 1.0 points to close at $137.20 with a heavy trading volume of 17512593 shares. The company report on August 16, 2023 at 5:00 PM that Culture Amp Selects Google Cloud to Drive Generative AI Innovation and Governance.
Gen AI will significantly speed up how Culture Amp’s customers respond to workforce feedback at scale, while safeguarding employees from bias and privacy risks.
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Google Cloud today announced that employee experience platform Culture Amp will use Google’s Vertex AI as the foundation of its generative AI solutions, following a successful pilot that could save HR professionals hundreds of hours normally spent analyzing employee feedback.
It opened the trading session at $135.87, the shares rose to $137.515 and dropped to $135.87, the range by which the price of stock traded the whole day. The daily chart for GOOG points out that the company has recorded 48.07% gains over the past six months. However, it is still -64.41% lower than its most recent low trading price.
If we look at the average trading volume of 23.13M shares, GOOG reached to a volume of 17512593 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 $142.30 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.
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.
The Average True Range (ATR) for Alphabet Inc. is set at 2.81, with the Price to Sales ratio for GOOG stock in the period of the last 12 months amounting to 5.96. The Price to Book ratio for the last quarter was 6.49.
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 -0.11. With this latest performance, GOOG shares gained by 5.42% in over the last four-week period, additionally plugging by 48.07% over the last 6 months – not to mention a rise of 24.19% 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 64.08, with the RSI for the last a single of trading hit 66.41, and the three-weeks RSI is set at 62.43 for Alphabet Inc. [GOOG]. The present Moving Average for the last 50 days of trading for this stock 128.22, while it was recorded at 136.46 for the last single week of trading, and 109.82 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 +25.95 and a Gross Margin at +55.07. Alphabet Inc.’s Net Margin is presently recorded at +21.35.
Return on Total Capital for GOOG is now 25.74, given the latest momentum, and Return on Invested Capital for the company is 21.37. Return on Equity for this stock inclined to 23.62, with Return on Assets sitting at 16.55. When it comes to the capital structure of this company, Alphabet Inc. [GOOG] has a Total Debt to Total Equity ratio set at 11.70. Additionally, GOOG Total Debt to Total Capital is recorded at 10.48, with Total Debt to Total Assets ending up at 8.21. Long-Term Debt to Equity for the company is recorded at 10.62, with the Long-Term Debt to Total Capital now at 9.51.
Reflecting on the efficiency of the workforce at the company, Alphabet Inc. [GOOG] managed to generate an average of $315,254 per employee. Receivables Turnover for the company is 6.98 with a Total Asset Turnover recorded at a value of 0.78.
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 15.11%.
An analysis of Institutional ownership at Alphabet Inc. [GOOG]
There are presently around $466.48 billion, or 64.2% of GOOG stock, in the hands of institutional investors. The top three institutional holders of GOOG stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in GOOG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in GOOG stock with ownership which is approximately 5.7381%.
