Amie Thuener O'Toole, Vice President and Chief Accounting Officer at Alphabet Inc. (NASDAQ:GOOGL), recently sold shares of the company's Class C Capital Stock. According to a recent SEC filing, Thuener O'Toole sold a total of 2,834 shares on December 16, 2024, for approximately $559,849. The sales occurred at prices ranging from $194.41 to $200.32 per share. The transaction comes as Alphabet, currently valued at $2.39 trillion, trades near its 52-week high of $201.42, having delivered a robust 44% return over the past year according to InvestingPro data.
Following these transactions, Thuener O'Toole holds 20,681 shares of Alphabet's Class C Capital Stock. Additionally, the filing notes the acquisition of Class C Google Stock Units, which were not sold, at no cost as part of a dividend equivalent unit program. These transactions were conducted under a Rule 10b5-1 Trading Plan, which allows company insiders to set up a predetermined plan to sell stocks. InvestingPro analysis reveals Alphabet maintains strong financial health with a "GREAT" overall score, supported by robust cash flows and profitability metrics. For deeper insights into Alphabet's valuation and 12+ additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Alphabet and Microsoft (NASDAQ:MSFT) have been designated as global gatekeepers for the distribution of artificial intelligence (AI) chips in new US regulations. These tech giants will be able to offer AI capabilities within their cloud services overseas without needing a license, under certain conditions. Meanwhile, Turkey's antitrust authority has imposed a $75 million fine on Google for anti-competitive practices, requiring the company to ensure equal conditions for third-party supply-side platforms within a six-month period.
In the technology sector, Nigel Green, CEO of deVere Group, predicts that the group of leading tech companies known as the Magnificent Seven—Apple (NASDAQ:AAPL), Microsoft, Alphabet, Amazon (NASDAQ:AMZN), Nvidia (NASDAQ:NVDA), Meta (NASDAQ:META), and Tesla—will maintain their market dominance through 2025. This assertion is based on their track record of outperforming market projections and their leadership in high-growth sectors such as AI, cloud computing, electric vehicles, and digital advertising.
Goldman Sachs (NYSE:GS) has maintained a Buy rating on Alphabet, expressing confidence in the company's positioning for the future of AI. Alphabet's new AI developments are expected to scale quickly, supported by its extensive user base and a suite of applications and services. In a related development, Alphabet's quantum computing chip, Willow, has successfully solved a complex mathematical problem, marking a significant advancement in quantum computing technology.
Shares of Rigetti Computing, a company specializing in quantum-classical computing, declined following a critique from Citron Research. Despite this, Rigetti and Quantum (NASDAQ:QMCO) Machines have successfully applied AI to automate the calibration of a quantum computer. These are among the recent developments in the technology and investment sectors.
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