Alphabet Inc (NASDAQ:GOOG) shares traded 1.90% higher at $125.75 on Wall Street last session.
GOOG stock price is now -6.90% away from the 50-day moving average and 7.21% away from the 200-day moving average. The market capitalization of the company currently stands at $1573.89B.
With the price target enhanced from $116 to $119, BofA Securities maintained Buy rating for Alphabet Inc (NASDAQ: GOOG).
In other news, ARNOLD FRANCES, Director sold 250 shares of the company’s stock on Oct 30. The stock was sold for $31,090 at an average price of $124.36. Upon completion of the transaction, the Director now directly owns 14,226 shares in the company, valued at $1.79 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 25, Director MATHER ANN sold 260 shares of the business’s stock. A total of $33,753 was realized by selling the stock at an average price of $129.82. This leaves the insider owning 4,759 shares of the company worth $0.6 million. Insiders disposed of 9,370,040 shares of company stock worth roughly $1.18 billion over the past 1 year. A total of 57.39% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GOOG stock. A new stake in Alphabet Inc shares was purchased by BSN CAPITAL PARTNERS LTD during the first quarter worth $246,800,000. UNISUPER MANAGEMENT PTY LTD invested $136,506,000 in shares of GOOG during the first quarter. In the first quarter, TAIREN CAPITAL LTD acquired a new stake in Alphabet Inc valued at approximately $116,570,000. RENAISSANCE TECHNOLOGIES LLC acquired a new stake in GOOG for approximately $104,495,000. IA GLOBAL ASSET MANAGEMENT INC. purchased a new stake in GOOG valued at around $64,396,000 in the second quarter. In total, there are 4,395 active investors with 28.20% ownership of the company’s stock.
Alphabet Inc (NASDAQ: GOOG) opened at $124.46 on Monday. During the past 12 months, Alphabet Inc has had a low of $83.45 and a high of $142.38. As of last week, the company has a debt-to-equity ratio of 0.11, a current ratio of 2.04, and a quick ratio of 2.01. According to the stock market information, the enterprise value for the company is $1.47T, which is based on a 24.11 price-to-earnings ratio, a 1.34 price-to-earnings-growth ratio, and a beta of 1.05. The fifty day moving average price for GOOG is $135.02 and a two-hundred day moving average price translates $117.46 for the stock.
The latest earnings results from Alphabet Inc (NASDAQ: GOOG) was released for Sep, 2023. According to the Internet Content & Information Company, earnings per share came in at $1.44, beating analysts’ expectations of $1.34 by 0.1. This compares to $0.99 EPS in the same period last year. The net profit margin was 22.52% and return on equity was 25.33% for GOOG. The company reported revenue of $76.69 billion for the quarter, compared to $69.09 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.0 percent. For the current quarter, analysts expect GOOG to generate $71.56B in revenue.
Alphabet Inc(GOOG) Company Profile
Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play store; and Fitbit wearable devices, Google Nest home products, Pixel phones, and other devices, as well as in the provision of YouTube non-advertising services. The Google Cloud segment offers infrastructure, cybersecurity, data, analytics, AI, and machine learning, and other services; Google Workspace that include cloud-based collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells health technology and internet services. The company was founded in 1998 and is headquartered in Mountain View, California.
