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Google C Soars: Market Cap Hits $2 Trillion Amid Bullish Buy Rating

AInvestMonday, Oct 7, 2024 4:01 am ET
1min read

As of last week, Google C (GOOG) saw an increase of 0.81%. Over the past week, the stock rose 1.98% and has surged 19.95% year-to-date, reaching a market cap of $2,074.97 billion. On October 4, 2024, the company achieved a trading volume of 11.43 million with a turnover of $1.923 billion, ranking 17th in terms of trading volume on that day.

On the same day, Google C closed at $168.56, up 0.81%. The stock has gained 1.98% in the last five trading days, with a monthly increase of 0.82%, and it has climbed 19.61% year-to-date. Over the past 52 weeks, the stock price has risen by 21.50%.

Alphabet Inc., the parent company of Google and other subsidiaries, was restructured in 2015. Originally founded on September 4, 1998, in California, Google later incorporated in Delaware in August 2003. Alphabet's diverse interests encompass technology, life sciences, capital investment, and research. Subsidiaries under Alphabet include Google, Calico, GV, Google Capital, and Google Fiber. The company's main focus remains on internet search, cloud computing, and advertising technologies, offering a wide range of internet-based products and services.

On October 2, 2024, Google's trading turnover was $2.13 billion with a volume of 12.75 million shares. The stock fell by 0.66% to $167.31, marking a 2.65% increase over the last five trading days. In October, the stock had a modest rise of 0.07%, contributing to an 18.72% gain year-to-date and a 25.51% increase over the past 52 weeks.

Financial reports as of June 30, 2024, reveal Google C’s total revenue amounted to $165.28 billion, reflecting a year-over-year growth of 14.47%. The net profit attributable to the parent company reached $47.28 billion, a significant increase of 41.48%.

Pivotal Research has initiated coverage on Google C as of October 1, suggesting a 'Buy' rating with a target price of $215. Investors anticipate the upcoming release of Google C’s third quarterly report for the 2024 fiscal year on October 22.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.