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Discovery Capital Management, LLC, managed by Rob Citrone, recently executed a significant transaction involving Alphabet Inc. Class A ((GOOGL)). The hedge fund reduced its position by 41,700 shares.
Recent Updates on Alphabet Inc. Class A stock
Alphabet Inc. Class A has recently reported strong financial results for Q4 2024, with a significant 14% increase in annual revenue to $350 billion, driven by advancements in AI and cloud services. Google Cloud experienced a 30% revenue rise, while YouTube advertising grew by 14%. Despite facing a 4% decline in network advertising revenue and challenges in cloud capacity, Alphabet’s operating income increased by 31%, and net income grew by 28%. The company plans to invest $75 billion in capital expenditures in 2025, focusing on AI and infrastructure, despite anticipating potential revenue headwinds due to currency fluctuations and the leap year effect. Hedge funds have shown varying interest, with some increasing their positions in the stock and others reducing it.
More about Alphabet Inc. Class A
YTD Price Performance: -3.07%
Average Trading Volume: 29,080,306
Current Market Cap: $2248.2B
