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Egerton Capital (UK) LLP, managed by John Armitage, recently executed a significant transaction involving Alphabet Inc. Class C ((GOOG)). The hedge fund increased its position by 1,784,517 shares.
Recent Updates on Alphabet Inc. Class C stock
Recent developments for Alphabet Inc. Class C (GOOG) include a robust Q4 2024 financial performance, with a 12% year-over-year increase in revenues to $96.5 billion, driven by a 10% rise in Google Services revenue and a notable 30% increase in Google Cloud revenue, largely due to advancements in AI infrastructure. Operating and net incomes surged by 31% and 28%, respectively, leading to a 31% rise in earnings per share to $2.15. Despite a year-to-date price decline of approximately 1.87%, the company remains optimistic about future growth, emphasizing AI advancements and strategic investments. The market cap is strong at around $2,278.6 billion. Hedge funds like Baupost Group and Egerton Capital have increased their positions, signaling confidence in Alphabet’s potential. CEO Sundar Pichai announced significant capital expenditures for technological enhancement, highlighting the company’s leadership in AI.
More about Alphabet Inc. Class C
YTD Price Performance: -1.97%
Average Trading Volume: 19,250,056
Current Market Cap: $2267B
