Weitz Investment Management, Inc., managed by Wallace Weitz, recently executed a significant transaction involving Alphabet Inc. Class C ((GOOG)). The hedge fund increased its position by 48,275 shares.
Recent Updates on Alphabet Inc. Class C stock
Alphabet Inc. Class C (GOOG) reported strong Q4 2024 financial results, with a 12% year-over-year increase in consolidated revenues to $96.5 billion. This growth was driven by a 10% rise in Google Services revenue and a 30% increase in Google Cloud revenue, attributed to advancements in AI infrastructure. Operating income surged by 31% and net income by 28%, resulting in a 31% increase in earnings per share to $2.15. Despite a year-to-date price performance decline of approximately 1.87%, Alphabet remains optimistic about future growth, focusing on AI advancements and strategic investments. Several hedge funds, including Tweedy Browne, Gardner Russo & Gardner, and others, increased their positions in the stock, reflecting confidence in its performance. The company’s market cap is approximately $2,278.6 billion, with an average trading volume of around 19,399,968.
More about Alphabet Inc. Class C
YTD Price Performance: -1.97%
Average Trading Volume: 19,250,056
Current Market Cap: $2278.6B