Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Suncoast Equity Management, managed by Donald R. Jowdy, recently executed a significant transaction involving Alphabet Inc. Class A ((GOOGL)). The hedge fund reduced its position by 1,670 shares.
Recent Updates on Alphabet Inc. Class A stock
Alphabet Inc. Class A (GOOGL) has reported strong financial results for Q4 2024, with a 14% increase in annual revenue, reaching $350 billion. This growth is largely attributed to advancements in AI and cloud services, as Google Cloud revenue surged by 30% to $12 billion. Despite a 4% decline in network advertising revenue, Alphabet’s operating income rose by 31%, and net income grew by 28%. The company plans to invest $75 billion in capital expenditures in 2025, focusing on AI and infrastructure, despite potential revenue headwinds due to currency fluctuations and the leap year effect. Hedge funds have shown varying interest, with some increasing and others reducing their positions in the stock. Alphabet’s year-to-date price performance shows a slight decline, with a market cap of approximately $2,282.6 billion.
More about Alphabet Inc. Class A
YTD Price Performance: -1.74%
Average Trading Volume: 28,920,224
Current Market Cap: $2278.6B
