Alphabet Inc. Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Alphabet Inc., headquartered in Mountain View, California, stands as a dominant force in the Internet Content & Information industry within the Communication Services sector. Founded in 1998, the tech giant offers an expansive portfolio of global products and platforms, including its flagship services: Google Ads, Android, YouTube, and Google Drive. Alphabet’s Google Cloud segment plays a vital role by providing essential infrastructure and enterprise solutions, while the Other Bets segment showcases the company’s commitment to innovation, primarily in healthcare and emerging internet services. With a strong financial performance, including total revenues of approximately $328.28 billion, Alphabet is well-positioned to enhance digital communication and content delivery on a global scale.
Investment Outlook
Currently trading at $164.64, Alphabet Inc. presents a compelling investment opportunity, underpinned by a bullish outlook supported by analysts. A target high price of $220.00 per share indicates substantial potential for future price appreciation, while the average mean target price is around $200.58. The stock is demonstrating a ‘buy’ recommendation, with a mean score of 1.8 based on feedback from 12 analysts, suggesting a generally positive sentiment towards the company’s growth prospects. The strong revenue figures coincide with favorable market conditions, reinforcing the attractiveness of Alphabet as a solid investment prospect.
Market Dynamics
The total number of shares outstanding is approximately 5.58 billion, with about 42 million shares currently shorted. While the short float percentage is not available, the float shares are approximately 10.98 billion, showcasing liquidity in the market. The current trading position, slightly below the fifty-day moving average of $166.70, may indicate caution among investors. With a fifty-two week high of $193.31 and a low of $121.46, the current price reflects a position closer to the lower end of its yearly range, highlighting the importance of monitoring market indicators going forward. Analysts’ insights suggest vigilance around these levels, especially to gauge future price movements as market conditions evolve.
This informative report encapsulates Alphabet Inc.’s financial and market performance, providing key insights for potential investors to navigate the stock landscape effectively.
| Metric | Value |
|---|---|
| Market Cap | $2019.3b |
| Total Debt | $28.7b |
| Total Cash | $100.7b |
| Shares Outstanding | 5.6b |
| Float Shares | 11.0b |
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