Kensico Capital Management Corp, managed by Thomas Jason Coleman&Michael Bernard Lowenstein, recently executed a significant transaction involving Alphabet Inc. Class A ((GOOGL)). The hedge fund reduced its position by 33,600 shares.
Recent Updates on Alphabet Inc. Class A stock
Alphabet Inc. Class A (GOOGL) has recently reported strong financial results for Q4 2024, with a 14% increase in annual revenue to $350 billion, largely driven by advances in AI and a 30% rise in Google Cloud revenue. Despite a 4% decline in network advertising revenue, the company saw a 31% increase in operating income and a 28% rise in net income. Alphabet plans to invest $75 billion in capital expenditures in 2025, focusing on AI and infrastructure, amidst potential revenue challenges due to currency fluctuations and the leap year effect. The stock’s year-to-date performance shows a slight decline of about 2-3%, with a market capitalization around $2,282.6 billion. Hedge funds have shown mixed interest, with some increasing and others reducing 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