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Los Angeles, CA -- (SBWIRE) -- 03/05/2013 -- Google Inc (NASDAQ:GOOG) is eager to touch its all-time high of 1000 US dollars per share after the stock recorded at 821.5 US dollars on Monday trade. The company is currently thankful to the ever growing mobile advertising and its lucrative dominance of Android software in the mobile phone market.
Google shares are up 16.1 % since the start of 2012 and have led a steep soar since then. In terms of market value Google currently holds the third place among US companies after Apple Inc and Exxon Mobile Corporation. The year-long growth makes Google stock the highest priced choice in the Standard & Poor’s 500 by more than 100 US dollars.
Several brokerage firms have a price target for Google shares more than 900 US dollars. Most recently company’s executive chairman Eric Schmidt filed to sell 42% of his share in the firm under the execution of individual asset diversification and liquidity plan.
In early February Google said that Schmidt intended to sell its Class A stock of 3.2 million shares for a period of one year under a stock trading plan. That stake now holds a worth of 2.6 billion US dollars at current value. The combined holding of Schmidt includes Class A and Class B common stock of 7.6 million shares.
The company has worked on expanding its lead in mobile platform through internet search advertising as the search giant is forced to take advantage of increasing smartphone and tablets market. However Google has managed to slow the average pace of ad rate declined over the past year. Google’s Android operating system is continuously expanding its lead over competitors including iOS from Apple.
Wall Street seems to be more confident about Google’s transition towards a much mobile focused operations.
What Are GOOG’s Charts Signaling For Traders? Find Out Here
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