5 Best Artificial Intelligence (AI) Stocks To Buy According to Financial Media

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 214

BMO Capital analysts maintain an Outperform rating and a $170 price target on Alphabet Inc. (NASDAQ:GOOGL) as of January 9.

Alphabet Inc. (NASDAQ:GOOGL) is a big tech company based in Mountain View, California. It entered the AI race with the Gemini AI chatbot, previously known as Bard, and Google AI, a division dedicated to AI development.

A total of 214 hedge funds were long Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, with a total stake value of $28.8 billion.

Diamond Hill Capital said the following about Alphabet Inc. (NASDAQ:GOOGL) in its fourth-quarter 2023 investor letter:

“Other bottom contributors included Alphabet Inc. (NASDAQ:GOOG), Lancaster Colony Corp and Lear Corp. Media and technology company Alphabet has been under pressure as the company’s cloud business has slowed. Packaged food products manufacturer Lancaster Colony has faced a challenging pricing environment, which has weighed on volumes. We exited our positions in both Alphabet and Lancaster Colony in Q4 and redeployed our capital into more attractive opportunities.”

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