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Gardner Russo & Gardner LLC, managed by Tom Russo, recently executed a significant transaction involving Alphabet Inc. Class C ((GOOG)). The hedge fund increased its position by 358,011 shares.
Recent Updates on Alphabet Inc. Class C stock
Alphabet Inc. Class C (GOOG) has reported strong financial results for Q4 2024, with revenues reaching $96.5 billion, representing a 12% year-over-year increase. This financial growth was primarily driven by a 10% rise in Google Services revenue, particularly from Google Search and YouTube ads, and a 30% surge in Google Cloud revenue, spurred by advancements in AI infrastructure. Operating income increased by 31%, and net income rose by 28%, with earnings per share up by 31% to $2.15. CEO Sundar Pichai attributed these successes to the company’s leadership in AI and announced plans for significant capital expenditures to further enhance technological capabilities. Despite a year-to-date price performance decline of 1.87%, Alphabet remains optimistic about future growth through AI advancements and strategic investments.
More about Alphabet Inc. Class C
YTD Price Performance: -2.73%
Average Trading Volume: 19,486,575
Current Market Cap: $2248.2B
