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Brandes Investment Partners LP, managed by Charles Brandes, recently executed a significant transaction involving Alphabet Inc. Class C ((GOOG)). The hedge fund reduced its position by 5,163 shares.
Recent Updates on Alphabet Inc. Class C stock
Alphabet Inc. Class C (GOOG) reported robust Q4 2024 financial results with a 12% year-over-year growth in consolidated revenues to $96.5 billion, driven by a 10% increase in Google Services revenue and a notable 30% rise in Google Cloud revenue due to advancements in AI infrastructure. Despite a year-to-date price decline of approximately 1.87% to 1.97%, the company remains optimistic about future growth, focusing on AI advancements and strategic investments. Operating income surged by 31%, and net income rose by 28%, leading to a 31% increase in earnings per share to $2.15. Alphabet maintains a strong market cap of around $2,278.6 billion. Significant transactions by hedge funds, such as increases in positions by Baupost Group and Egerton Capital, indicate strong confidence in Alphabet’s potential. CEO Sundar Pichai highlighted AI leadership and announced plans for substantial capital expenditures to enhance technological capabilities.
More about Alphabet Inc. Class C
YTD Price Performance: -1.97%
Average Trading Volume: 19,250,056
Current Market Cap: $2267B