20 AI News and Analyst Ratings You Should Not Miss

5. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 165

Alphabet Inc. (NASDAQ:GOOG) is a California-based technology company that owns and runs the internet search engine Google. News publication Bloomberg recently reported that officials of the European Union are in the process of preparing a chargesheet against Google under the Digital Markets Act. The chargesheet would allow the EU to impose a heavy fine on the tech giant and compel changes to the business model of Google. Product results from rivals occupying a more prominent position on different Google search services are one of many bones of contention. The penalties for inaction could reach up to 10% of global annual revenue.

DA Davidson recently initiated coverage of Alphabet Inc. (NASDAQ:GOOG) stock with a Neutral rating and $170 price target. In a research note, the advisory detailed that as the company faced challenges in its core Search business, its opportunity would migrate to the rest of its portfolio, where its positioning was mixed. Analysts at the advisory expect Alphabet to continue trading at a discount to other mega-caps unless it becomes more aggressive in pursuing those opportunities.