Reasons why Alphabet Inc’s (NASDAQ:GOOG) fundamentals are futile

The price of Alphabet Inc (NASDAQ:GOOG) shares last traded on Wall Street fell -0.31% to $133.64.

Based on available information, 55 analysts follow Alphabet Inc (NASDAQ:GOOG). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $180.00 and a low of $126.00, we find $153.00. Given the previous closing price of $134.06, this indicates a potential upside of 14.13 percent. GOOG stock price is now -0.73% away from the 50-day moving average and 12.30% away from the 200-day moving average. The market capitalization of the company currently stands at $1672.64B.

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Among analysts, 10 rate the stock a hold while 40 rate it a buy. Brokers who have rated the stock have averaged $152.68 as their price target over the next twelve months.

With the price target enhanced from $116 to $119, BofA Securities maintained Buy rating for Alphabet Inc (NASDAQ: GOOG).

In other news, Shriram Kavitark Ram, Director sold 75,000 shares of the company’s stock on Nov 07. The stock was sold for $9,831,588 at an average price of $131.09. Upon completion of the transaction, the Director now directly owns 85,338 shares in the company, valued at $11.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 07, Director Shriram Kavitark Ram sold 75,000 shares of the business’s stock. A total of $9,831,555 was realized by selling the stock at an average price of $131.09. This leaves the insider owning 104,364 shares of the company worth $13.95 million. Insiders disposed of 9,869,788 shares of company stock worth roughly $1.32 billion over the past 1 year. A total of 57.40% of the company’s stock is owned by insiders.

A candlestick chart of Alphabet Inc (NASDAQ: GOOG) showed a price of $133.36 on Monday morning. During the past 12 months, Alphabet Inc has had a low of $85.57 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 $1.58T, which is based on a 25.62 price-to-earnings ratio, a 1.43 price-to-earnings-growth ratio, and a beta of 1.05. The fifty day moving average price for GOOG is $134.62 and a two-hundred day moving average price translates $119.00 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 $1.55, beating analysts’ expectations of $1.45 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 $85.12B in revenue.

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