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Platinum Investment Management, managed by Marcia Venegas, recently executed a significant transaction involving Alphabet Inc. Class A ((GOOGL)). The hedge fund reduced its position by 104,671 shares.
Recent Updates on Alphabet Inc. Class A stock
Alphabet Inc. Class A (GOOGL) has recently reported strong financial results for Q4 2024, driven by significant advancements in AI and cloud services. The company achieved a 14% increase in annual revenue, reaching $350 billion, with Google Cloud revenue rising by 30% to $12 billion. Despite a 4% decline in network advertising revenue, Alphabet’s operating income increased by 31%, and net income grew by 28%. The company plans to invest $75 billion in capital expenditures for AI and infrastructure to counter potential revenue headwinds due to currency fluctuations and the leap year effect in 2025. Hedge funds have shown varying interest, with some increasing their positions in the stock and others reducing it. The stock’s year-to-date price performance is noted as a decline of approximately 2.17%, with an average trading volume of around 29 million shares and a market cap of about $2.28 trillion.
More about Alphabet Inc. Class A
YTD Price Performance: -1.74%
Average Trading Volume: 28,920,224
Current Market Cap: $2278.6B
