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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 reported strong financial results for Q4 and fiscal year 2024, with a 12% year-over-year increase in consolidated revenues totaling $96.5 billion. The growth was driven by advancements in artificial intelligence and increased engagement in digital services, with Google Cloud revenue rising 30% due to demand for AI and cloud solutions. Alphabet’s operating income increased by 31%, leading to an operating margin expansion to 32%, and net income grew by 28% with earnings per share reaching $2.15. Despite challenges in network advertising and cloud capacity, Alphabet remains optimistic about future growth, planning to invest approximately $75 billion in capital expenditures in 2025. The company anticipates some revenue headwinds in 2025 due to currency fluctuations and the leap year effect.
More about Alphabet Inc. Class A
YTD Price Performance: -2.17%
Average Trading Volume: 29,098,830
Current Market Cap: $2282.6B