Ken Fisher’s Top 5 Growth Stock Picks

4. Alphabet Inc. (NASDAQ:GOOG)

Fisher Asset Management’s Stake Value: $4,562,868,000 

Percentage of Fisher Asset Management’s 13F Portfolio: 3.22%

Number of Hedge Fund Holders: 153

On July 27, Morgan Stanley analyst Brian Nowak raised his price target on Alphabet Inc. (NASDAQ:GOOG) to $145 from $140 and maintained a buy-side Overweight rating on the shares. On August 3, Tigress Financial analyst Ivan Feinseth raised his price target on Alphabet Inc. (NASDAQ:GOOG) to $186 from $183 and reiterated a Strong Buy rating on the shares.

Alphabet Inc. (NASDAQ:GOOG) is a cash-rich, high-margin, and low-risk growth stock. The company has free cash flows of $65 billion and the stock has a trailing twelve-month operating margin of 29.65% and a debt-to-equity ratio of 0.05.

According to Insider Monkey’s database, 153 hedge funds were bullish on Alphabet Inc. (NASDAQ:GOOG) at the close of Q2 2022. The total stakes of these hedge funds amounted to $22.29 billion. Of those, $4.56 billion were of Fisher Asset Management. The investment covers 3.22% of Ken Fisher’s 13F portfolio.

Here is what Baron Funds had to say about Alphabet Inc. (NASDAQ:GOOG) in its second-quarter 2022 investor letter:

“Alphabet Inc. 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).”