5 Best American Stocks To Buy In 2024

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 214

Alphabet Inc. (NASDAQ:GOOGL) Class A shares come with voting rights, allowing shareholders to have a say in corporate decisions at shareholder meetings. Each Class A share typically comes with one vote per share. According to Insider Monkey’s fourth quarter database, 214 hedge funds were long Alphabet Inc. (NASDAQ:GOOGL), compared to 221 funds in the prior quarter. 

Madison Sustainable Equity Fund stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its fourth quarter 2023 investor letter:

“Alphabet Inc. (NASDAQ:GOOG) was positive during the quarter but had a more modest gain in the fourth quarter following a strong third quarter and as a result, lagged the Technology sector more broadly. Alphabet’s third quarter included solid Search and YouTube results while Cloud growth was a bit softer, growing at 22% year-over-year. Google continues to incorporate AI in its core search businesses. It has been rolled out to a wide number of users across multiple geographies. We will continue to watch how Google adapts AI in its businesses and monitor cloud growth.”

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