5 Best Adtech Stocks To Buy According To Hedge Funds

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1. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 156

Alphabet Inc. (NASDAQ:GOOG) is an American Big Tech firm that operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is one of the most popular adtech stocks to invest in. 

On December 22, Piper Sandler analyst Thomas Champion said he views the news of the National Football League announcing a multi-year agreement with Alphabet Inc. (NASDAQ:GOOG)’s YouTube for rights to the NFL Sunday Ticket as a positive and it will likely accelerate the push toward over-the-top time spent and ad dollars moving to streaming. He reiterated an Overweight rating and a $122 price target on Alphabet Inc. (NASDAQ:GOOG) shares.

According to Insider Monkey’s third quarter database, 156 hedge funds were bullish on Alphabet Inc. (NASDAQ:GOOG), compared to 153 funds in the last quarter. Chris Hohn’s TCI Fund Management is the largest stakeholder of the company, with 52.4 million shares worth $5 million. 

Here is what Stewart Asset Management has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2022 investor letter:

“We invest in businesses with strong, resilient earnings growth which are less cyclical. In the pandemic recession of 2020, the aggregate earnings of the portfolios we manage did not decline year-over-year, and in fact grew, albeit modestly. Looking at the Great Recession which began at year-end 2007 and lasted to mid-year 2009 is helpful too. Our four largest current holdings in the portfolio weathered that period well. Alphabet (NASDAQ:GOOG), then called Google, reported earnings that doubled from 2007 to 2010.”

Follow Alphabet Inc. (NASDAQ:GOOGL)

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