Moore Capital Management LP Reduces Stake in Alphabet Inc.

Tip Ranks
2025.02.16 03:05
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Moore Capital Management LP has reduced its stake in Alphabet Inc. (GOOG) by 27,698 shares. Despite a slight year-to-date decline of 1.87% in stock performance, Alphabet reported strong Q4 2024 results with a 12% increase in revenues to $96.5 billion, driven by growth in Google Services and Cloud. Operating income rose by 31%, and net income increased by 28%. CEO Sundar Pichai highlighted a focus on AI and plans for significant capital expenditures. Alphabet's market cap stands at approximately $2,278.6 billion.

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Moore Capital Management LP, managed by Louis Moore Bacon, recently executed a significant transaction involving Alphabet Inc. Class C ((GOOG)). The hedge fund reduced its position by 27,698 shares.

Recent Updates on Alphabet Inc. Class C stock

Recent developments for Alphabet Inc. Class C (GOOG) include strong Q4 2024 financial results, with a 12% year-over-year increase in consolidated revenues to $96.5 billion. This growth was mainly driven by a 10% rise in Google Services revenue and a 30% surge in Google Cloud revenue, largely due to advancements in AI infrastructure. Operating and net incomes increased by 31% and 28%, respectively, with earnings per share rising to $2.15. Despite a slight year-to-date price performance decline of around 1.87%, the stock has seen increased confidence from several hedge funds, such as Baupost Group LLC, Egerton Capital, and others, which have significantly increased their positions. CEO Sundar Pichai emphasized the company’s focus on AI leadership and announced plans for substantial capital expenditures to enhance technological capabilities. Alphabet’s market cap remains robust at approximately $2278.6 billion.

More about Alphabet Inc. Class C

YTD Price Performance: -1.97%

Average Trading Volume: 19,250,056

Current Market Cap: $2278.6B

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