Stick With Alphabet Inc (GOOG). The Bull Are Alive And Well

Currently, there are 5.69B common shares owned by the public and among those 5.22B shares have been available to trade.

The company’s stock has a 5-day price change of 2.73% and 26.34% over the past three months. GOOG shares are trading 36.21% year to date (YTD), with the 12-month market performance up to 56.54% higher. It has a 12-month low price of $115.83 and touched a high of $187.62 over the same period. GOOG has an average intraday trading volume of 19.11 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 6.21%, 9.47%, and 28.14% respectively.

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Institutional ownership of Alphabet Inc (NASDAQ: GOOG) shares accounts for 27.65% of the company’s 5.69B shares outstanding.

It has a market capitalization of $2372.24B and a beta (3y monthly) value of 1.05. The stock’s trailing 12-month PE ratio is 29.44, while the earnings-per-share (ttm) stands at $6.52. The company has a PEG of 1.61 and a Quick Ratio of 2.15 with the debt-to-equity ratio at 0.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.83% over the week and 1.72% over the month.

Earnings per share for the fiscal year are expected to increase by 30.10%, and 13.42% over the next financial year. EPS should shrink at an annualized rate of 18.25% 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. Rosenblatt stated their Neutral rating for the stock in a research note on June 28, 2024, with the firm’s price target at $181. Oppenheimer coverage for the Alphabet Inc (GOOG) stock in a research note released on April 08, 2024 offered a Outperform rating with a price target of $185. Raymond James was of a view on December 20, 2023 that the stock is Outperform, while BofA Securities gave the stock Buy rating on January 31, 2023, issuing a price target of $116- $119. Credit Suisse on their part issued Outperform rating on October 11, 2022.

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