Retirement Stock Portfolio: 5 Safe Tech Stocks To Consider

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 156 

Alphabet Inc. (NASDAQ:GOOG) is the parent company of Google, the most famous search engine in the world. Over the years, Alphabet Inc. (NASDAQ:GOOG) has diversified into a large tech firm with stakes in the cloud, video sharing, and software businesses. Cowen analyst John Blackledge has an Outperform rating on Alphabet Inc. (NASDAQ:GOOG) stock with a price target of $3,500. The analyst believes that Alphabet Inc. (NASDAQ:GOOG) will continue to offer investors the highest return on investment for the near future in the digital ads business. 

Major hedge funds are also bullish on Alphabet Inc. (NASDAQ:GOOG) as a new fiscal year begins. 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 2.9 million shares worth more than $7.8 billion. 

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:

“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”