Reassessing The Changing Outlook For Alphabet Inc (GOOG)

Currently, there are 5.69B common shares owned by the public and among those 5.27B shares have been available to trade.

However, the script later moved the day high at 161.70, down -1.11%. The company’s stock has a 5-day price change of -2.18% and 5.24% over the past three months. GOOG shares are trading 10.49% year to date (YTD), with the 12-month market performance up to 48.28% higher. It has a 12-month low price of $103.27 and touched a high of $161.70 over the same period. GOOG has an average intraday trading volume of 23.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.44%, 5.68%, and 12.77% respectively.

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Institutional ownership of Alphabet Inc (NASDAQ: GOOG) shares accounts for 27.82% of the company’s 5.69B shares outstanding.

It has a market capitalization of $1936.07B and a beta (3y monthly) value of 1.03. The stock’s trailing 12-month PE ratio is 26.82, while the earnings-per-share (ttm) stands at $5.81. The company has a PEG of 1.39 and a Quick Ratio of 2.10 with the debt-to-equity ratio at 0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.03% over the week and 1.95% over the month.

Earnings per share for the fiscal year are expected to increase by 17.76%, and 15.12% over the next financial year. EPS should shrink at an annualized rate of 19.25% over the next five years, compared to 21.56% over the past 5-year period.

Looking at the support for the GOOG, a number of firms have released research notes about the stock. Oppenheimer stated their Outperform rating for the stock in a research note on April 08, 2024, with the firm’s price target at $172-$185. Raymond James coverage for the Alphabet Inc (GOOG) stock in a research note released on December 20, 2023 offered a Outperform rating with a price target of $150. BofA Securities was of a view on January 31, 2023 that the stock is Buy, while Credit Suisse gave the stock Outperform rating on October 11, 2022, issuing a price target of $140- $134. MKM Partners on their part issued Buy rating on July 18, 2022.

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