In the latest trading session, 6.74 million Alphabet Inc (NASDAQ:GOOGL) shares changed hands as the company’s beta touched 1.04. With the company’s most recent per share price at $166.07 changed hands at -$1.11 or -0.66% at last look, the market valuation stands at $2044.32B. GOOGL’s current price is a discount, trading about -15.46% off its 52-week high of $191.75. The share price had its 52-week low at $120.21, which suggests the last value was 27.61% up since then. When we look at Alphabet Inc’s average trading volume, we note the 10-day average is 25.08 million shares, with the 3-month average coming to 24.94 million.
Analysts gave the Alphabet Inc (GOOGL) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.52. If we narrow down to specifics, the data shows that 0 out of 39 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 4 recommended GOOGL as a Hold, 34 felt it is a Buy and 0 rated the stock as Underweight. Alphabet Inc’s EPS for the current quarter is expected to be 1.83.
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Alphabet Inc (NASDAQ:GOOGL) trade information
Instantly GOOGL was in red as seen in intraday trades today. With action 3.55%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 18.88%, with the 5-day performance at 3.55% in the green. However, in the 30-day time frame, Alphabet Inc (NASDAQ:GOOGL) is -8.65% down. Looking at the short shares, we see there were 65.68 million shares sold at short interest cover period of 2.75 days.
The consensus price target for the stock as assigned by Wall Street analysts is 171.5, meaning bulls need an upside of 3.17% from its recent market value. According to analyst projections, GOOGL’s forecast low is 59 with 240 as the target high. To hit the forecast high, the stock’s price needs a -44.52% plunge from its current level, while the stock would need to tank 64.47% 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 16.50% over the past 6 months, a 31.55% in annual growth rate that is considerably higher than the industry average of 19.70%. Year-over-year growth is forecast to reach 13.00% up from the last financial year.
Consensus estimates given by 35 financial analysts project the company’s revenue in the current quarter to hit an average of 86.28B. 34 analysts are of the opinion that Alphabet Inc’s revenue for the current quarter will be 95.82B. The company’s revenue for the corresponding quarters a year ago was 76.69B and 86.31B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 12.50%. The estimates for the next quarter sales put growth at 11.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 21.56%. The 2024 estimates are for Alphabet Inc earnings to increase by 31.71%, but the outlook for the next 5-year period is at 20.50% per year.
GOOGL Dividends
Alphabet Inc is expected to release its next quarterly earnings report on 2024-Oct-22. The 0.12% annual yield figure for the share gives it an annual dividend of 0.20. It is important to note, however, that the 0.12% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Alphabet Inc (NASDAQ:GOOGL)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.25% of Alphabet Inc shares while 80.93% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 81.13%. There are 80.93% institutions holding the Alphabet Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 4.0626% of the shares, roughly 504.37 million GOOGL shares worth $91.87 billion.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 3.3917% or 421.08 million shares worth $76.7 billion as of 2024-06-30.
Among Mutual Funds, the top two as of Mar 31, 2024 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 185.36 shares estimated at $30.75 billion under it, the former controlled 3.16% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.53% of the shares, roughly 148.5 shares worth around $24.63 billion.
