Shares of Alphabet Inc. (NASDAQ:GOOGL) traded today at $3019.21, eclipsing its 12-month high. This new high was reached on below average trading volume as 358,000 shares traded hands, while the average 30-day volume is approximately 1.6 million shares.
Based on a current price of $2997.00, Alphabet Inc. is currently 26.9% above its average consensus analyst price target of $2189.46.
Over the past year, Alphabet Inc. has traded in a range of $1694.00 to $3019.21 and is now at $2997.00, 77% above that low.
Alphabet is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads. Google’s other revenue is from sales of apps and content on Google Play and YouTube, as well as cloud service fees and other licensing revenue. Sales of hardware such as Chromebooks, the Pixel smartphone, and smart homes products, which include Nest and Google Home, also contribute to other revenue. Alphabet’s moonshot investments are in its other bets segment, where it bets on technology to enhance health (Verily), faster Internet access to homes (Google Fiber), self-driving cars (Waymo), and more. Alphabet’s operating margin has been 25%-30%, with Google at 30% and other bets operating at a loss.
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