Obama Stock Portfolio: 10 Year Returns and Top 5 Stocks

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 156     

Alphabet Inc. (NASDAQ:GOOG) provides various products and platforms such as Google Services, Google Cloud etc. It is one of the top stocks in the Vanguard index in which Obama had stakes in during his time in the office. On November 3, Google, a subsidiary of Alphabet, noted that it wants to compete to dominate the internet’s next battleground by developing artificial intelligence using the world’s one thousand most spoken languages. 

On October 26, Evercore ISI analyst Mark Mahaney maintained an Outperform rating on Alphabet Inc. (NASDAQ:GOOG) stock and lowered the price target to $130 from $140, noting that Q3 results of the firm missed the Street estimates across the board by a wider margin than seen in some time.

Among the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 52.4 million shares worth more than $5 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).”