Shares of Alphabet Inc. (NASDAQ: GOOG) traded at a new 52-week high today of $2804.00. Approximately 149,000 shares have changed hands today, as compared to an average 30-day volume of 976,000 shares.
Alphabet Inc. (NASDAQ: GOOG) defies analysts with a current price ($2802.97) 19.7% above its average consensus price target of $2250.07.
Alphabet Inc. share prices have moved between a 52-week high of $2804.00 and a 52-week low of $1406.55 and are now trading 99% above that low price at $2802.97 per share.
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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