Google's parent company Alphabet hits $1T market cap

Jan. 16 (UPI) -- Google's parent company Alphabet on Thursday became the fourth U.S. business to hit $1 trillion in market capitalization.

Alphabet entered the exclusive club after its shares were trading at $1,450.16 on the Nasdaq, an increase of 0.8 percent on the day, by the time markets closed on Thursday.

The technology and internet giant joins Apple, Microsoft and Amazon as the only four U.S. companies to hit that milestone, with Apple being the first to cross the line in 2018. Amazon, which became the second company to hit that threshold later that year, has since dropped below that coveted bar.

The accomplishment comes a month after Sundar Pichai took over as CEO of Alphabet following founders Larry Page and Sergey Brin deciding to step down from their roles as CEO and president, respectively.

Last month, Saudi Aramco became the first company to hit $2 trillion market capitalization.