In the latest trading session, 4.56 million Alphabet Inc. (NASDAQ:GOOGL) shares changed hands as the company’s beta touched 1.06. With the company’s most recent per share price at $138.65 changing hands around $1.25 or 0.91% at last look, the market valuation stands at $1762.29B. GOOGL’s current price is a discount, trading about -0.04% off its 52-week high of $138.70. The share price had its 52-week low at $83.34, which suggests the last value was 39.89% up since then. When we look at Alphabet Inc.’s average trading volume, we note the 10-day average is 22.56 million shares, with the 3-month average coming to 29.27 million.
Analysts gave the Alphabet Inc. (GOOGL) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.90. If we narrow down to specifics, the data shows that 0 out of 56 analysts rate the stock as a Sell, with a further 5 assigning it an Overweight rating. Of the remaining, 10 recommended GOOGL as a Hold, 41 felt it is a Buy and 0 rated the stock as Underweight. Alphabet Inc.’s EPS for the current quarter is expected to be $1.44.
Alphabet Inc. (NASDAQ:GOOGL) trade information
Instantly GOOGL is in green as seen in intraday trades today. With action 1.26%, the performance over the past five days has been green. The jump to weekly highs of 138.70 on Friday, 09/15/23 added 0.91% to the stock’s daily price. The company’s shares are showing year-to-date upside of 57.14%, with the 5-day performance at 1.26% in the green. However, in the 30-day time frame, Alphabet Inc. (NASDAQ:GOOGL) is 6.72% up. Looking at the short shares, we see there were 49.04 million shares sold at short interest cover period of 1.89 days.
The consensus price target for the stock as assigned by Wall Street analysts is $149.68, meaning bulls need an upside of 7.37% from its recent market value. According to analyst projections, GOOGL’s forecast low is $121.00 with $200.00 as the target high. To hit the forecast high, the stock’s price needs a -44.25% plunge from its current level, while the stock would need to tank 12.73% for it to hit the projected low.
Alphabet Inc. (GOOGL) estimates and forecasts
Data shows that the Alphabet Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 36.43% over the past 6 months, a 24.56% in annual growth rate that is considerably higher than the industry average of 20.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Alphabet Inc. will rise 35.80%, while the growth in revenue is estimated to hit 53.30% for the next quarter. Year-over-year growth is forecast to reach 7.70% up from the last financial year.
Consensus estimates given by 31 financial analysts project the company’s revenue in the current quarter to hit an average of $75.91 billion. 30 analysts are of the opinion that Alphabet Inc.’s revenue for the quarter ending Dec 2023 will be $84.8 billion. The company’s revenue for the corresponding quarters a year ago was $69.09 billion and $76.05 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 9.90%. The estimates for the next quarter sales put growth at 11.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 23.30%. The 2023 estimates are for Alphabet Inc. earnings to decrease by -18.80%, but the outlook for the next 5-year period is at 16.20% per year.
Alphabet Inc. is expected to release its next quarterly earnings report between October 23 and October 27.
Alphabet Inc. (NASDAQ:GOOGL)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.28% of Alphabet Inc. shares while 78.93% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 79.15%. There are 78.93% institutions holding the Alphabet Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.19% of the shares, roughly 486.13 million GOOGL shares worth $67.55 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.06% or 418.76 million shares worth $58.19 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 185.28 million shares estimated at $25.75 billion under it, the former controlled 3.12% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.38% of the shares, roughly 141.45 million shares worth around $19.65 billion.