5 Stocks That Will Make You Rich In 2024

2. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 214

Alphabet Inc. (NASDAQ:GOOGL) is a tech holding company that provides various services and products through its subsidiaries, including apps for web-based search, advertisements, maps, and more.

On February 23, Redburn Atlantic raised the price target on Alphabet Inc. (NASDAQ:GOOGL)’s stock to $170 from $165 and maintained a Buy rating on the shares.

In the fourth quarter, 214 hedge funds had investments in Alphabet Inc. (NASDAQ:GOOGL)’s stock. Billionaire Ken Fisher’s Fisher Asset Management was the top investor in the company, with 45.22 million shares worth $6.317 billion, representing 3.11% of the investment portfolio.

First Pacific Advisors stated the following regarding 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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