5 Favorite Stocks of Cathie Wood and Ken Fisher

3. Alphabet Inc. (NASDAQ:GOOG)

Ken Fisher’s Stake Value: $462,708,000

Cathie Wood’s Stake Value: $71,585,000

Number of Hedge Fund Holders: 156

Ken Fisher and Cathie Wood regard Alphabet Inc. (NASDAQ:GOOG) as one of their favorite stocks from the third quarter, holding significant stakes in the parent company of Google subsidiaries. Alphabet Inc. (NASDAQ:GOOG), on October 26, reported its Q3 earnings. EPS for the quarter equaled $27.99, outperforming estimates by $4.75. The quarterly revenue amounted to $65.12 billion, exceeding estimates by $1.83 billion. 

Tigress Financial analyst Ivan Feinseth on December 1 raised the price target on Alphabet Inc. (NASDAQ:GOOG) to $3,540 from $3,185 and reiterated a Strong Buy rating on the shares, citing strong growth potential from the artificial intelligence segment of the tech giant.

Chris Hohn’s TCI Fund Management is the leading Alphabet Inc. (NASDAQ:GOOG) stakeholder in Q3 2021, with a $7.86 billion position in the company. Overall, 156 hedge funds were long Alphabet Inc. (NASDAQ:GOOG) in the third quarter, with total stakes amounting to almost $35 billion. 

Here is what Davis Opportunity Fund has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2021 investor letter:

“E-commerce, online search and advertising, social media and software are another component of the portfolio that have proven, attractive businesses. The online portion of the Fund is currently dominated by such market leaders as Alphabet (the parent company of Google). We are attracted to these names based on the size and rapid expansion of their market opportunities globally, their ability to generate and grow new revenue sources through constant innovation, ample operating leverage as they continue to scale and capable, focused, highly competitive leadership teams. If purchased at sensible prices, these types of businesses in our experience can contribute meaningfully to long-term results.”