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First Pacific Advisors LLC, managed by Richard Atwood, recently executed a significant transaction involving Alphabet Inc. Class A ((GOOGL)). The hedge fund increased its position by 128,688 shares.
Recent Updates on Alphabet Inc. Class A stock
Alphabet Inc. Class A recently held its Q4 earnings call, highlighting significant revenue growth driven by cloud and AI advancements. The company reported an impressive annual revenue of $350 billion for 2024, a 14% increase, with Google Cloud revenue growing by 30% to $12 billion in Q4. Despite a 4% decline in network advertising revenue, Alphabet’s financial health remained strong with a free cash flow of $24.8 billion in Q4 and $72.8 billion for the year. Challenges included cloud capacity limitations and anticipated revenue headwinds in 2025 due to currency fluctuations and the leap year effect. Nevertheless, Alphabet plans to invest $75 billion in 2025 to sustain growth, focusing on AI and infrastructure. Overall, the earnings call reflected a positive sentiment with robust growth prospects, emphasizing AI advancements and strategic investments.
More about Alphabet Inc. Class A
YTD Price Performance: -2.17%
Average Trading Volume: 29,098,830
Current Market Cap: $2282.6B
