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Davis Selected Advisers, managed by Chris Davis, recently executed a significant transaction involving Alphabet Inc. Class C ((GOOG)). The hedge fund increased its position by 18,720 shares.
Recent Updates on Alphabet Inc. Class C stock
Recent developments for Alphabet Inc. Class C (GOOG) include robust Q4 2024 financial results, with a 12% year-over-year increase in consolidated revenues to $96.5 billion. This growth was driven by a 10% rise in Google Services and a 30% surge in Google Cloud revenues, attributed to advancements in AI infrastructure. Despite a slight year-to-date price performance decline of approximately 1.87%, the company remains optimistic about future growth with a strong focus on AI advancements and strategic investments. Operating and net incomes rose by 31% and 28%, respectively, leading to a 31% increase in earnings per share to $2.15. The market cap stands at approximately $2,278.6 billion. Several hedge funds, including Baupost Group and Egerton Capital, have increased their positions, indicating confidence in the stock’s potential, while others like Gotham Asset Management and Crake Asset Management reduced their holdings. CEO Sundar Pichai highlighted the company’s leadership in AI and announced substantial capital expenditures to enhance technological capabilities.
More about Alphabet Inc. Class C
YTD Price Performance: -1.97%
Average Trading Volume: 19,250,056
Current Market Cap: $2267B
