Google parent's stock price hits new milestone

Highlights from Google's annual developer conference

NEW YORK - Google parent Alphabet (GOOGL) has joined fellow internet behemoth Amazon (AMZN) in a select club: companies whose stock price have hit four digits.

Alphabet's stock on Monday topped the $1,000 mark for the first time, less than a week after Amazon reached the same milestone. In early afternoon trading, the company's stock was up $6.53, or 0.7 percent, to $1,002.65. Investors must pony up roughly $1,010 for one Amazon share.

Alphabet and Amazon are part of a small group of stocks belonging to companies that have shunned stock splits. Those splits make the stock more affordable and generate brokerage fees. But companies like Amazon and Alphabet have chosen to reward their long-term investors.

Along with Amazon, only four other U.S.-listed companies have shares that trade above $1,000: Warren Buffett's conglomerate Berkshire Hathaway (BRK.A); homebuilder NVR (NVR); online booking service Priceline (PCLN); and Seaboard (SEB), a diversified company involved in pork and poultry production, as well as ocean transportation.