3. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 156
Alphabet Inc. (NASDAQ:GOOG) is one of the Big Five US tech firms, and operates as the parent company of Google and Google Subsidiaries. YouTube is a Google subsidiary that operates as a video sharing social platform, and brands run their advertisements on monetized videos, where they link their products for sale as well. Content creators post reviews on YouTube, and the company creators are planning to integrate a direct shopping feature into the platform very soon.
In August 2021, active YouTube audience reached 1.86 billion users, and it is one of the most visited websites globally, making Alphabet Inc. (NASDAQ:GOOG) one of the best social commerce stocks to buy.
Tigress Financial analyst Ivan Feinseth raised the price target on Alphabet Inc. (NASDAQ:GOOG) to $3,540 from $3,185 and reiterated a Strong Buy rating on the shares. Alphabet Inc. (NASDAQ:GOOG)’s increasing artificial intelligence-first focus is driving greater product functionality and “significant” growth opportunities, according to the analyst.
A total of 156 hedge funds were bullish on Alphabet Inc. (NASDAQ:GOOG) in Q3 2021, and Chris Hohn’s TCI Fund Management is the leading company stakeholder, with a $7.86 billion position.
Here is what Saturna Capital Amana Funds has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2021 investor letter:
“Alphabet was a new addition to the Fund this year, as we believed it important to have exposure to the top online media and advertising company in the world. Some have raised concerns surrounding Alphabet’s exposure to political interference, but we take comfort from the belief that were the company to be broken up, it would quite likely be worth even more than as a single entity.”
