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Duquesne Family Office LLC, managed by Stanley Druckenmiller, recently executed a significant transaction involving Alphabet Inc. Class A ((GOOGL)). The hedge fund reduced its position by 76,680 shares.
Recent Updates on Alphabet Inc. Class A stock
Recent developments for Alphabet Inc. Class A (GOOGL) include strong financial results for Q4 2024, with a 14% increase in annual revenue to $350 billion, driven by advancements in AI and a 30% rise in Google Cloud revenue. Despite a 4% decline in network advertising revenue, the company reported a 31% rise in operating income and a 28% growth in net income. Alphabet plans to invest $75 billion in capital expenditures to support AI and infrastructure growth, anticipating potential revenue headwinds in 2025 due to currency fluctuations and the leap year effect. The stock’s year-to-date price performance shows a slight decline of around 2-3%, with a market cap of approximately $2,282.6 billion. Hedge fund activity has been mixed, with some increasing and others reducing their positions in Alphabet stock.
More about Alphabet Inc. Class A
YTD Price Performance: -2.22%
Average Trading Volume: 28,719,287
Current Market Cap: $2278.6B