Top 3 Stock Picks of Michael Sidhom’s Immersion Capital

2. Alphabet Inc. (NASDAQ:GOOG)

Immersion Capital’s Stake Value: $218,396,000

Percentage of Immersion Capital’s 13F Portfolio: 21.04%

Number of Hedge Fund Holders: 155

Immersion Capital owns 89,441 shares in Alphabet Inc. (NASDAQ:GOOG), valued at $218.39 million, representing 21.04% of Sidhom’s 13F portfolio. 

As of the end of June, 155 hedge funds in Insider Monkey’s database were bullish on Alphabet Inc. (NASDAQ:GOOG), down from 159 in the previous quarter. 

On October 27, Monness Crespi analyst Brian White kept a Buy rating on Alphabet Inc. (NASDAQ:GOOG), stating a price target of $3660, up from $3500. He said that the company’s Q3 results were enviable, and Alphabet Inc. (NASDAQ:GOOG) is set to capitalize on the strong trend of digital advertising. 

Here is what Alger has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2021 investor letter:

“Alphabet Inc. was among the top contributors to performance during the third quarter. Alphabet is a leading internet search provider and is a beneficiary in the share shift of advertising dollars from traditional mediums like television, radio and newspapers to digital platforms. The company is a leader in implementing Al, autonomous vehicles and cloud computing and owns the highly trafficked YouTube property. Alphabet contributed to performance due to a strong quarterly report highlighted by revenue growth that beat consensus expectations across segments. The company’s core search revenues have increased 10% over the past two years, with cloud computing increasing 8%. Results from YouTube also exceeded expectations. When discussing quarterly results, Alphabet management said retail, entertainment and travel were end markets that were particularly strong. The fixed cost structure of Alphabet’s search service resulted in profitability resulting from the increase in revenues being better than expected.”