Ken Fisher’s Top 5 Growth Stock Picks

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 156

Fisher Asset Management’s Holdings: $4,062,723,000

Percentage of Fisher Asset Management’s Portfolio: 3.04%

Alphabet Inc. (NASDAQ:GOOG) is a Mountain View, California-based diversified technology holding company with leading online properties like Google and YouTube in its portfolio.

Alphabet Inc. (NASDAQ:GOOG) recently entered into a multi-year agreement with National Football League (NFL) that will give the conglomerate rights to the NFL Sunday Ticket. Thomas Champion at Piper Sandler noted this agreement as a positive development. The analyst thinks it would shift the flow of ad-spending from traditional TV to an over-the-top (OTT) medium that will generate healthy margins for Alphabet Inc. (NASDAQ:GOOG) in the long run. On December 22, the analyst assigned Alphabet Inc. (NASDAQ:GOOG) stock a target price of $122 with an Overweight rating.

Stewart Asset Management discussed its outlook on Alphabet Inc. (NASDAQ:GOOG) in its Q3 2022 investor letter. Here’s what the firm said:

“We invest in businesses with strong, resilient earnings growth which are less cyclical. In the pandemic recession of 2020, the aggregate earnings of the portfolios we manage did not decline year-over-year, and in fact grew, albeit modestly. Looking at the Great Recession which began at year-end 2007 and lasted to mid-year 2009 is helpful too. Our four largest current holdings in the portfolio weathered that period well. Alphabet (NASDAQ:GOOG), then called Google, reported earnings that doubled from 2007 to 2010.”

As of Q3 2022, Alphabet Inc. (NASDAQ:GOOG) was held by 156 hedge funds.

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