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Gamco Investors, Inc. ET AL, managed by Mario Gabelli, recently executed a significant transaction involving Alphabet Inc. Class A ((GOOGL)). The hedge fund increased its position by 6,524 shares.
Recent Updates on Alphabet Inc. Class A stock
Alphabet Inc. Class A (GOOGL) reported strong Q4 2024 financial results, with a 14% increase in annual revenue to $350 billion, largely driven by advancements in AI and a 30% rise in Google Cloud revenue. Despite a 4% decline in network advertising revenue, operating income rose by 31% and net income grew by 28%. The company plans a $75 billion investment in AI and infrastructure for 2025, anticipating potential revenue headwinds due to currency fluctuations and the leap year effect. The stock has seen a slight year-to-date decline of around 2-3%, with a current market cap of approximately $2,278.6 billion. Hedge funds have shown mixed interest in the stock, with some increasing and others decreasing their positions.
More about Alphabet Inc. Class A
YTD Price Performance: -2.22%
Average Trading Volume: 28,719,287
Current Market Cap: $2267B
