5 Best Cheap Technology Stocks to Invest In

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 153

Alphabet Inc. (NASDAQ:GOOG), based in Mountain View, California, is the parent company of several companies including the Google, Verily Life Sciences, GV (formerly Google Ventures), Calico, and X-the moonshot factory. Majority of its revenue is generated by Google Services which comprises of ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Alphabet Inc. (NASDAQ:GOOG) announced the release of Android 13 earlier in August, adding multiple new features focused on personalization and privacy.

As of September 26, Alphabet Inc. (NASDAQ:GOOG) shares have lost significant value since the beginning of the year as the shares were down 31.46% YTD, trading at a forward P/E ratio of 16.78. Analysts maintain bullish sentiments for the search engine operator, with an average price target of $148.95 for its shares, representing 51% upside potential to the current price.

Alphabet Inc. (NASDAQ:GOOG) is one of the most commonly owned stock among the 895 hedge funds tracked by Insider Monkey. As of Q2 2022, 153 hedge funds owned shares of Alphabet Inc. (NASDAQ:GOOG), valued at $22.3 billion.