5 Most Owned Stocks by Hedge Funds Now

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 214

BMO Capital analysts maintained a $170 price target on Alphabet Inc. (NASDAQ:GOOGL) on January 9, alongside an Outperform rating.

Alphabet Inc. (NASDAQ:GOOGL) is a communication services company based in Mountain View, California. It operates through its Google Services, Google Cloud, and Other Bets segments.

We saw 214 hedge funds 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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