5 Tech Stocks To Buy According To Billionaire George Soros

2. Alphabet Inc. (NASDAQ:GOOG)

Soros Fund Management’s Stake Value: $159,026,000

Percentage of Soros Fund Management’s 13F Portfolio: 2.93%

Number of Hedge Fund Holders: 156

Soros Fund Management started building its position in Alphabet Inc. (NASDAQ:GOOG) in Q4 2015, and after selling off its stake over the years, the hedge fund held shares of Alphabet Inc. (NASDAQ:GOOG) consistently from Q2 2019 onwards. Heading into the third quarter of 2021, Soros Fund Management held 59,482 Alphabet Inc. (NASDAQ:GOOG) shares, worth $159 million, representing 2.93% of the total 13F portfolio. 

Publishing its Q4 results on February 1, Alphabet Inc. (NASDAQ:GOOG) posted earnings per share of $30.69, topping estimates by $3.41. Revenue over the period jumped 32.39% year-on-year to $75.33 billion, outperforming estimates by $3.50 billion. 

On February 2, Stifel analyst Scott Devitt raised the price target on Alphabet Inc. (NASDAQ:GOOG) to $3,500 from $3,200 and kept a Buy rating on the shares after the company reported what he called “another strong quarter”. 

In Q3 2021, 156 hedge funds were bullish on Alphabet Inc. (NASDAQ:GOOG), with stakes totalling roughly $35 billion, up from 155 funds in the prior quarter, holding stakes in Alphabet Inc. (NASDAQ:GOOG) worth $33.79 billion. TCI Fund Management held the leading stake in Alphabet Inc. (NASDAQ:GOOG), with 2.95 million shares worth $7.8 billion.

Here is what Weitz Investment Management has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q4 2021 investor letter:

“A couple of other platform companies deserve a mention as well. Meta Platforms and Alphabet have both been under regulatory scrutiny that has affected their valuations. The threats of punitive action are real, but we have tried to be imaginative about how onerous any fines, rule changes or forced divestitures might be, and we believe that the five year outlook for each is well above average under almost any scenario. So, we include these two in the list of the under-appreciated.”