Understanding companies
Alphabet Class A vs. Class C: GOOGL and GOOG
The voting-right difference between Alphabet Class A and Class C shares and what investors should verify.In this briefing
The short answer
Among Alphabet’s U.S.-listed shares, GOOGL is Class A and GOOG is Class C. The clearest difference is voting rights: Class A generally carries one vote per share, while Class C generally carries none.
Both tickers are tied to the same company and the same business results. They are not structured to receive different economic treatment in dividends or splits — the difference is primarily about voting.
Why several classes exist
Alphabet uses a share structure with different voting rights. Class B, held by founders and certain insiders, carries more votes per share but is not traded by ordinary investors on the public market in the same way.
| Class | Ticker | Typical voting rights | Publicly traded |
|---|---|---|---|
| Class A | GOOGL | One vote per share | Yes |
| Class B | No separate public ticker | Multiple votes per share | Limited |
| Class C | GOOG | None | Yes |
This arrangement is called a dual-class share structure. It lets founders retain influence over the company’s long-term direction even after their ownership percentage is diluted. Issuing non-voting Class C shares to raise capital or pay for acquisitions increases the share count without changing control.
Opinions on the structure diverge. Supporters argue it allows long-horizon investment free from short-term pressure; critics note that it weakens ordinary shareholders’ ability to hold management accountable. Either way, this is an interpretation of the structure, not a fact about where the stock price will go.
A way to remember the tickers
The extra L in GOOGL can be read as the “legal vote” or as “cLass A.” The ticker with one more letter has one more right.
Why the prices differ
Both are tied to the same economics, but voting rights and supply-demand differences can produce slightly different prices. Neither is permanently more expensive or better. Consider liquidity, spreads, your purpose for holding, and whether voting matters to you.
Factors behind the gap generally include:
- How the market values the vote
- Shares outstanding and trading volume in each class
- Index inclusion and the institutional flows that follow
- Which class the company repurchases
The spread widens and narrows over time. One side looking cheaper does not guarantee the gap will close.
Are results reported separately?
Alphabet reports consolidated results for the whole company. Class A and Class C do not have separate business results. The equity footnotes show share counts by class and buyback activity.
In the 10-K and 10-Q, capital-related footnotes break out shares outstanding and repurchase amounts by class. Seeing which class is shrinking tells you where capital is being returned.
Dividends and taxes
Where a dividend is paid, the structure is not designed to treat the classes differently. Non-U.S. investors, however, face withholding at source on U.S. dividends, and capital gains are taxed under their home country’s rules. Confirm specific rates and filing requirements with your broker and tax authority.
Other companies with the same structure
Dual-class structures are not unique to Alphabet. They appear at many founder-led U.S. technology companies, sometimes with separately listed classes. Voting multiples and class composition differ by company, so do not carry the same assumptions to another ticker — check each company’s charter and annual report.
Before choosing
- Whether you entered the intended ticker
- Whether voting rights matter to you
- Trading volume and the bid-ask spread
- Which class your index or fund product holds
- Whether your broker supports fractional trading in it
- Whether an ETF you already own holds one class
For most individual investors, exercising a vote has little practical effect. In that case liquidity, trading cost, and overlap with holdings you already own are the more realistic criteria.
Official sources
Verify the exact rights and outstanding share counts in Alphabet’s latest annual report and charter-related filings. This guide explains share-class structure and does not recommend buying any ticker.