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Wedgewood Partners Inc, managed by David Rolfe, recently executed a significant transaction involving Alphabet Inc. Class A ((GOOGL)). The hedge fund increased its position by 10,488 shares.
Recent Updates on Alphabet Inc. Class A stock
Alphabet Inc. Class A (GOOGL) reported strong Q4 2024 financial results, with a 14% increase in annual revenue to $350 billion, driven largely by advancements in AI and cloud services. Google Cloud’s revenue rose by 30% to $12 billion, and YouTube advertising revenue increased by 14%, despite a 4% decline in network advertising revenue. The company’s operating income grew by 31% and net income by 28%. Alphabet plans to invest $75 billion in capital expenditures for AI and infrastructure growth in 2025, amidst potential revenue challenges due to currency fluctuations and the leap year effect. The year-to-date price performance shows a slight decline of around 2-3%, with a market cap of approximately $2,282.6 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: $2278.6B
