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Weitz Investment Management, Inc., managed by Wallace Weitz, recently executed a significant transaction involving Alphabet Inc. Class C ((GOOG)). The hedge fund increased its position by 48,275 shares.
Recent Updates on Alphabet Inc. Class C stock
Recent developments for Alphabet Inc. Class C (GOOG) highlight 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, primarily from Google Search and YouTube ads, and a significant 30% increase in Google Cloud revenue, attributed to advancements in AI infrastructure. Operating income and net income surged by 31% and 28%, respectively, with earnings per share rising by 31% to $2.15. Hedge funds, including Egerton Capital and Cryder Capital, have increased their positions in the stock, reflecting confidence in its performance. Despite these positives, Alphabet’s year-to-date price performance is down by 1.87%, while maintaining a market cap of $2,282.6 billion. CEO Sundar Pichai emphasized AI leadership as a key driver of success and announced plans for significant capital expenditures to enhance technological capabilities, keeping an optimistic outlook on future growth.
More about Alphabet Inc. Class C
YTD Price Performance: -2.73%
Average Trading Volume: 19,486,575
Current Market Cap: $2248.2B
