5 Best Fortune 500 Stocks to Buy Now

3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 156

Alphabet Inc. (NASDAQ:GOOG), a US multinational tech conglomerate that is the parent company of Google and Google subsidiaries, surged approximately 67% in 2021, and helped collectively add more than $2.45 trillion in market valuation, in addition to the other Big Five US tech firms. 

Tigress Financial analyst Ivan Feinseth on December 3 raised the price target on Alphabet Inc. (NASDAQ:GOOG) to $3,540 from $3,185 and reiterated a Strong Buy rating on the shares, citing the company’s increasing artificial intelligence-first focus improving product functionality and “significant” growth opportunities.

TCI Fund Management, an approximately $42 billion value-based hedge fund managed by British billionaire Chris Hohn, is the largest Alphabet Inc. (NASDAQ:GOOG) stakeholder as of Q3 2021, holding 2.95 million shares of the company, worth $7.86 billion. Overall, 156 funds were bullish on the stock in the third quarter. 

Here is what Saturna Capital Amana Funds has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2021 investor letter:

“Alphabet was a new addition to the Fund this year, as we believed it important to have exposure to the top online media and advertising company in the world. Some have raised concerns surrounding Alphabet’s exposure to political interference, but we take comfort from the belief that were the company to be broken up, it would quite likely be worth even more than as a single entity.”