The stock of Alphabet (GOOGL) has hit an all-time high days after legendary investor Warren Buffett disclosed a big stake in the technology giant.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
GOOGL stock was trading at an all-time high of $294.55 on a split-adjusted basis early on Nov. 19, marking a significant milestone for the search engine company. Alphabet’s shares are now up 60% this year, with most of that gain coming in the last three months.
GOOGL stock has been trending higher since August, when a judge ruled in the company’s favor in its long-running antitrust case with the U.S. government. Alphabet’s share price had been languishing over fears that the courts would rule the company had a monopoly in online search and order its business broken up. However, no break-up was ordered and the stock has rallied.
Buffett’s Stake in GOOGL Stock
In a regulatory filing with the U.S. Securities and Exchange Commission (SEC), Berkshire Hathaway (BRK.B) revealed that it has taken a stake in GOOGL stock worth more than $4 billion, making it the 10th largest equity holding of Buffett’s company.
The large stake in Alphabet by Warren Buffett has proved to be yet another catalyst for the stock, sending it up to an all-time high even as other technology stocks fall on concerns about high valuations. The only other so-called “Magnificent Seven” technology stocks that Berkshire Hathaway owns are Apple (AAPL) and Amazon (AMZN).
Is GOOGL Stock a Buy?
The stock of Alphabet has a consensus Strong Buy rating among 38 Wall Street analysts. That rating is based on 31 Buy and seven Hold recommendations issued in the last three months. The average GOOGL price target of $312.00 implies 2.82% upside from current levels.
