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Alphabet Inc. (NASDAQ: GOOG) -40.45% Away From High, Is Set For A Comeback?

Alphabet Inc. (NASDAQ:GOOG)’s traded shares stood at 15.84 million during the last session. At the last check today, the stock’s price was $102.64, to imply an increase of 1.55% or $1.57 in intraday trading. The GOOG share’s 52-week high remains $144.16, putting it -40.45% down since that peak but still an impressive 18.7% since price per share fell to its 52-week low of $83.45. The company has a valuation of $1291.52B, with an average of 32.2 million shares in intraday trading volume over the past 10 days and average of 30.50 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for Alphabet Inc. (GOOG), translating to a mean rating of 1.50. Of 48 analyst(s) looking at the stock, 0 analyst(s) give GOOG a Sell rating. 7 of those analysts rate the stock as Overweight while 5 advise Hold as 36 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $1.06.

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Alphabet Inc. (NASDAQ:GOOG) trade information

After registering a 1.55% upside in the latest session, Alphabet Inc. (GOOG) has traded red over the past five days. The stock hit a weekly high of 103.49 this Thursday, 03/16/23, jumping 1.55% in its intraday price action. The 5-day price performance for the stock is 12.78%, and 5.70% over 30 days. With these gigs, the year-to-date price performance is 15.68%. Short interest in Alphabet Inc. (NASDAQ:GOOG) saw shorts transact 32.36 million shares and set a 1.23 days time to cover.

Analysts on Wall Street suggest a consensus price target of $125.32, implying an increase of 18.1% to the stock’s recent value. The extremes give us $89.88 and $160.00 for target low and target high price respectively. As such, GOOG has been trading -55.88% off suggested target high and 12.43% from its likely low.

Alphabet Inc. (GOOG) estimates and forecasts

Looking at statistics comparing Alphabet Inc. share performance against respective industry, we note that the company has underperformed competitors. Alphabet Inc. (GOOG) shares are -1.21% down over the last 6 months, with its year-to-date growth rate lower than industry average at 12.28% against 17.50%. Revenue is forecast to shrink -13.80% this quarter before jumping 5.80% for the next one. The rating firms project that company’s revenue will grow 4.70% compared to the previous financial year.

Revenue forecast for the current quarter as set by 28 analysts is $68.41 billion. Meanwhile, for the quarter ending Jun 2023, a total of 26 analyst(s) estimate revenue growth to $72.16 billion.Earnings reports from the last fiscal year show that sales brought in $68.01 billion and $69.69 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 0.60% before jumping 3.50% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 23.35% for the past 5-year period. While 2023 is set for a 10.50% return in earnings, projections for the next 5 years are at 15.51% annually.

GOOG Dividends

Alphabet Inc. has its next earnings report out between April 24 and April 28. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Alphabet Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Alphabet Inc. (NASDAQ:GOOG)’s Major holders

Alphabet Inc. insiders hold 0.02% of total outstanding shares, with institutional holders owning 63.48% of the shares at 63.49% float percentage. In total, 63.48% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Dec 30, 2022, the company held over 422.66 million shares (or 7.08% of shares), all amounting to roughly $43.16 billion.

The next major institution holding the largest number of shares is Blackrock Inc. with 364.7 million shares, or about 6.11% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $37.24 billion.

We also have Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the Alphabet Inc. (GOOG) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 156.13 million shares. This is just over 2.62% of the total shares, with a market valuation of $15.94 billion. Data from the same date shows that the other fund manager holds a little less at 121.57 million, or 2.04% of the shares, all valued at about 12.41 billion.

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