Top 5 Stock Picks of Jason McDougall’s 11 Capital Partners

2. Alphabet Inc. (NASDAQ:GOOG)

11 Capital Partners’ Stake Value: $40,103,000

Percentage of 11 Capital Partners’ 13F Portfolio: 8.11%

Number of Hedge Fund Holders: 156

11 Capital Partners acquired a stake in Alphabet Inc. (NASDAQ:GOOG) in Q3 2021, buying 15,000 shares worth $40.1 million. Alphabet Inc. (NASDAQ:GOOG) is a California-based multinational technology conglomerate that became the parent company of Google and several former Google subsidiaries on October 2, 2015. 

Alphabet Inc. (NASDAQ:GOOG) reported its fourth quarter earnings on February 1, reporting an EPS of $30.69, beating estimates by $3.41. Revenue over the period increased 32.39% year-over-year to $75.33 billion, surpassing estimates by $3.50 billion. 

Monness Crespi analyst Brian White on February 2 raised the price target on Alphabet Inc. (NASDAQ:GOOG) to $3,850 from $3,660 and kept a Buy rating on the shares as he raised estimates after the company reported “strong” Q4 results that demonstrate resilient digital ad trends and continued cloud momentum. Alphabet Inc. (NASDAQ:GOOG) should continue to benefit from secular digital ad trends, see strength in the cloud, and introduce metaverse innovations, according to the analyst. 

In Q3 2021, 156 hedge funds were long Alphabet Inc. (NASDAQ:GOOG), with stakes totaling roughly $35 billion, as compared to 155 funds in the quarter earlier, holding stakes in Alphabet Inc. (NASDAQ:GOOG) worth $33.79 billion. TCI Fund Management is the largest Alphabet Inc. (NASDAQ:GOOG) stakeholder as of the close of the third quarter of 2021, with 2.95 million shares valued at $7.8 billion. 

Here is what Weitz Investment Management has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q4 2021 investor letter:

“A couple of other platform companies deserve a mention as well. Meta Platforms and Alphabet have both been under regulatory scrutiny that has affected their valuations. The threats of punitive action are real, but we have tried to be imaginative about how onerous any fines, rule changes or forced divestitures might be, and we believe that the five year outlook for each is well above average under almost any scenario. So, we include these two in the list of the under-appreciated.”