Beech Hill’s Favorite Tech Stocks This Quarter

#3 Alphabet Inc (NASDAQ:GOOGL)

– Class A Shares Owned by Beech Hill (as of March 31): 7,200

– Value of Holding (as of March 31): $5.5 Million

After slashing its stake by 29% in the January-March period, Beech Hill’s Alphabet Inc (NASDAQ:GOOGL) stake represented 4.3% of the firm’s equity portfolio. Although a part of nifty nine last year, or the nine stocks that lead the market, Alphabet has had a rough start to the year, and is down by nearly 7%. The company failed to meet analyst expectations in its financial results for the first quarter, missing both top- and bottom-line estimates. Cost per click (CPC) slid by 9% on a year-over-year basis. The CPC decline on Google sites amounted to 12% and was 8% elsewhere. Moreover, European Union has introduced another facet in its antitrust battle against Google. The tech giant is now also being accused of using its dominant position in Android operating system to limit competition.  Barry Dargan‘s Intermede Investment Partners raised its holding in Alphabet Inc (NASDAQ:GOOGL) by 42% in the first quarter to over 69,000 shares.