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Diamond Hill Capital Management Inc, managed by Ric Dillon, recently executed a significant transaction involving Alphabet Inc. Class A ((GOOGL)). The hedge fund increased its position by 24,808 shares.
Recent Updates on Alphabet Inc. Class A stock
Alphabet Inc. Class A (GOOGL) has reported strong Q4 2024 financial results, with a notable 14% increase in annual revenue to $350 billion, driven by advancements in AI and cloud services. Google Cloud revenue rose by 30% to $12 billion, and YouTube advertising grew by 14%. Despite a 4% decline in network advertising revenue, operating income and net income increased by 31% and 28%, respectively. The company anticipates potential revenue challenges in 2025 due to currency fluctuations and the leap year effect but plans to invest $75 billion in capital expenditures for AI and infrastructure. The year-to-date price performance is currently down by approximately 2-3%, with a market cap around $2,282.6 billion. Hedge funds have shown mixed interest, with some increasing and others decreasing their positions.
More about Alphabet Inc. Class A
YTD Price Performance: -1.74%
Average Trading Volume: 28,920,224
Current Market Cap: $2278.6B
