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*Stock Advisor returns as of December 16, 2024. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Alphabet. The Motley Fool ...
Shares of Google parent Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) were on an upswing earlier this year. The stock rose from a 52-week low of $127.90 last December to hit a high of $191.75 in July.
The market isn't asking investors to pay a steep premium for this stock -- it's actually the opposite. Alphabet shares are trading at a forward price-to-earnings ratio of just 22.6.
Alphabet initiated a $0.20-per-share dividend, currently yielding 0.5%. For comparison, IBM pays $1.67 per share with a yield of 3.8%. So in comparison, Alphabet's dividend is lacking.
Alphabet's after-hours share surge of nearly 16% following the report increased its stock market value by about $300 billion to over $2 trillion.
Alphabet stock jumped as much as 6%, adding about $136 billion to its market valuation and representing its best intra-day gain since April 26. The stock had pared its gain to about 5% by 1:00 p.m ...
After the drawdown, Alphabet stock now trades at a price-to-earnings ratio (P/E) of 23.5. This is well below the S&P 500 of 30. Alphabet can grow EPS at a faster rate than the index.
Alphabet stock is currently selling for just 23 times earnings, a significant discount to a multiple of 30 for the S&P 500. It's also a discount to Alphabet's average price-to-earnings ratio of 30 ...