5 Most Searched Stocks on Insider Monkey

3. Alphabet Inc. (NASDAQ:GOOG)

Percentage of Searches: 0.40%

Number of Hedge Fund Holders: 153

Alphabet Inc. (NASDAQ:GOOG) has always held the interest of retail and institutional investors alike. Alphabet Inc. (NASDAQ:GOOG) has poured around $1.5 billion into the blockchain industry between September 2021 and June 2022, with investments focused on four blockchain companies – Fireblocks, Dapper Labs, Voltage, and Digital Currency Group. 

On July 27, Evercore ISI analyst Mark Mahaney maintained an Outperform rating on Alphabet Inc. (NASDAQ:GOOG) but lowered the price target on the stock to $140 from $155.50. Alphabet Inc. (NASDAQ:GOOG) reported “surprisingly solid” Q2 earnings, along with revenue broadly in-line with Street estimates, said the analyst, who also noted that fundamentals are “holding up better than the market (and we) thought they would”. 

Among the hedge funds tracked by Insider Monkey, Alphabet Inc. (NASDAQ:GOOG) was part of 153 public stock portfolios at the end of Q2 2022, compared to 160 in the last quarter. Chris Hohn’s TCI Fund Management is one of the largest stakeholders of the company, with 2.5 million shares worth $5.4 billion. 

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:

“Alphabet Inc. (NASDAQ:GOOG) is the parent company of Google, the world’s largest search and online advertising company. Shares of Alphabet declined 21.6% in the quarter due to concerns about slower global growth impacting the company’s core advertising business. We retain conviction in Alphabet’s merits as it continues to benefit from growth in mobile and online video advertising, which accrues to its core assets of search, YouTube, and the Google ad network. We are further encouraged by Alphabet’s investments in Cloud, AI, and Autonomous Driving (through its Waymo subsidiary).”