4 Reasons Google's Stock Is Trading Higher Today

Alphabet Inc. GOOG shares are trading 4.6% higher at $2414.07 on Wednesday at the time of publication.

Here are four catalysts moving the stock higher:

• Google reported first-quarter earnings per share of $26.29, which beat the $15.88 analyst estimate, and sales of $55.31 billion, which beat the $51.68 billion analyst estimate.
• The company announced a $50 billion Class C capital stock buyback.
• Google also reported first-quarter advertising sales of $44.684 billion, which is up from $33.763 billion year-over-year.
• Several analysts maintained bullish ratings on the stock and raised their price targets.

Google Analysts Bullish Following Earnings Beat: 'Well Positioned For Reopening Tailwinds'

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.