5 Best Least Shorted Stocks to Buy Now

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1. Alphabet Inc C (NASDAQ:GOOG)

Number of Hedge Fund Investors: 163

Despite concerns regarding Alphabet Inc C’s (NASDAQ:GOOG) search business amid the AI wave and rising competition, Alphabet Inc C (NASDAQ:GOOG) remains one of the least-shorted stocks with a highly positive hedge fund sentiment. The stock recently stumbled even after Alphabet Inc C (NASDAQ:GOOG) posted strong Q4 results which shows its ad revenue jump by 11%. Many analysts believe Alphabet Inc C (NASDAQ:GOOG) shares will rebound. Alphabet Inc C’s (NASDAQ:GOOG) revenue in the last quarter of 2023 jumped 13.5% year over year to $86.31 billion, beating estimates by $1.04 billion.

Of the 910 hedge funds tracked by Insider Monkey, 221 hedge funds had stakes in Alphabet Inc C (NASDAQ:GOOG).

The FPA Crescent Fund stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its fourth quarter 2023 investor letter:

Alphabet Inc. (NASDAQ:GOOG) continued going from strength to strength during 2023 despite concerns that competition may infringe on the company’s dominant position in Search. Thus far, Alphabet has continued to hold its own, and we look forward to seeing how the company incorporates further AI developments across the Alphabet ecosystem. Lastly, we are hopeful that the impending arrival of a new CFO will bring a renewed focus on efficiency – an area where we believe Alphabet has ample room for improvement.”

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