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Davis Selected Advisers, managed by Chris Davis, recently executed a significant transaction involving Alphabet Inc. Class A ((GOOGL)). The hedge fund increased its position by 46,903 shares.
Recent Updates on Alphabet Inc. Class A stock
In recent developments, Alphabet Inc. Class A (GOOGL) reported strong Q4 2024 financial results, with a 14% increase in annual revenue to $350 billion, largely driven by advancements in AI and a 30% rise in Google Cloud revenue. Despite a 4% decline in network advertising revenue, the company’s operating and net incomes rose by 31% and 28%, respectively. Alphabet plans a significant $75 billion investment in AI and infrastructure for 2025, while acknowledging potential revenue challenges due to currency fluctuations and the leap year effect. The stock’s year-to-date price performance has shown a slight decline of around 2-3%, with a current market cap of approximately $2,278.6 billion. Hedge funds have shown mixed interest, with some increasing and others decreasing their positions in the stock.
More about Alphabet Inc. Class A
YTD Price Performance: -2.22%
Average Trading Volume: 28,719,287
Current Market Cap: $2267B
