5 52-Week Low Stocks with Upside Potential

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1. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 158

52-Week Low as of May 23: $2,127.46

Real-Time Share Price as of May 23: $2,197.48

Alphabet Inc. (NASDAQ:GOOG) is a diversified technology company. The firm recently announced that it would be doubling production plans for the Pixel smartphone devices, expanding Pixel Pass and subscription services in a bid to widen the customer base of the firm. The plans will help the company reduce traffic acquisition costs. In the next few years, the company could hit 100 million annual smartphone shipments, contributing to the revenue growth of the tech giant that owns and runs the most popular search engine worldwide. 

On April 27, Guggenheim analyst Michael Morris kept a Buy rating on Alphabet Inc. (NASDAQ:GOOG) stock and lowered the price target to $3,000 from $3,350, noting that the firm was still viewed as a tech leader in the industry. 

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 $8.5 billion. 

In its Q4 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:

“In contrast, we made a different kind of mistake about a decade ago. Google, now Alphabet Inc. (NASDAQ:GOOG), performed very well for us while we owned it. The company kept outperforming our assumptions and we kept lowering them to be conservative. “Trees do not grow to the sky.” The stock kept going up and our value grew but did not keep pace with the stock. It hit our estimate of fair value and we sold it with a nice gain, patting ourselves on the back. We kept following Alphabet Inc. (NASDAQ:GOOG) and what they actually did over the next several years was roughly double the assumptions we used to value it. Therefore, our value was too conservative, and we sold it too cheaply, missing many years of compounding. Fortunately, we experienced some volatility several years ago that allowed us to purchase Alphabet Inc. (NASDAQ:GOOG) (Google) again with a margin of safety.”

You can also take a peek at 10 Best Stocks for Animal Lovers and 10 Best Nickel Stocks to Buy Now.

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