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Platinum Investment Management, managed by Marcia Venegas, recently executed a significant transaction involving Alphabet Inc. Class C ((GOOG)). The hedge fund reduced its position by 93,947 shares.
Recent Updates on Alphabet Inc. Class C stock
Recent developments for Alphabet Inc. Class C (GOOG) include strong Q4 2024 financial results, with a 12% year-over-year increase in consolidated revenues to $96.5 billion. This growth was driven by a 10% rise in Google Services revenue and a significant 30% increase in Google Cloud revenue, largely due to advancements in AI infrastructure. Despite a year-to-date price performance decline of approximately 1.87%, the company remains optimistic about future growth, focusing on AI advancements and strategic investments. Several hedge funds, including Baupost Group and Egerton Capital, have increased their positions, reflecting confidence in the stock’s potential. CEO Sundar Pichai emphasized the company’s leadership in AI and announced substantial capital expenditures for technological enhancement. The current market cap is approximately $2,278.6 billion.
More about Alphabet Inc. Class C
YTD Price Performance: -1.97%
Average Trading Volume: 19,250,056
Current Market Cap: $2267B
