5 Best FAANG Stocks To Invest In

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 221

Alphabet Inc. (NASDAQ:GOOGL) is a big tech company operating the Google search engine, Google Cloud, Chrome, and Android, among more. It is based in Mountain View, California.

Wedbush analyst Scott Devitt holds an Outperform rating and a $160 price target on Alphabet Inc. (NASDAQ:GOOGL) as of January 31.

Alphabet Inc. (NASDAQ:GOOGL) had 221 hedge funds long its stock in the third quarter, with a total stake value of $26.2 billion.

Here’s what  First Pacific Advisors said about Alphabet Inc. (NASDAQ:GOOGL) in its fourth-quarter 2023 investor letter:

Alphabet Inc. (NASDAQ:GOOG) continued going from strength to strength during 2023 despite concerns that competition may infringe on the company’s dominant position in Search. Thus far, Alphabet has continued to hold its own, and we look forward to seeing how the company incorporates further AI developments across the Alphabet ecosystem. Lastly, we are hopeful that the impending arrival of a new CFO will bring a renewed focus on efficiency – an area where we believe Alphabet has ample room for improvement.”

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