1. Alphabet Inc. (NASDAQ:GOOG)
TCI Fund Management’s Stake Value: $8.54 billion
Percentage of TCI Fund Management’s 13F Portfolio: 19.22%
Number of Hedge Fund Holders: 158
The largest holding of British investor Chris Hohn is Alphabet Inc. (NASDAQ:GOOG), in which he owns 2.95 million shares worth $8.54 billion, representing more than 19% of his overall portfolio as of the fourth quarter of 2021. Out of the hedge funds tracked by Insider Monkey, 158 in total were bullish on Alphabet Inc. (NASDAQ:GOOG) in Q4 2021, as compared to 156 hedge funds a quarter ago.
On April 19, Citi analyst Ronald Josey upgraded Alphabet Inc. (NASDAQ:GOOG) to ‘Buy’ from ‘Neutral’, and bumped the price target to $3,500 from $2,965. He sees the internet sector showing signs of healthy growth which is sustained by multiple vectors as online consumer engagement continues to grow and evolve.
Alphabet Inc.’s (NASDAQ:GOOG) EPS for the fourth quarter was recorded at $30.69, above analysts’ forecasts by $3.41. Quarterly revenue of $75.33 billion increased 32.39% year-on-year, and also beat consensus estimates by $3.5 billion.
Here is what Ensemble Capital had to say about Alphabet Inc. (NASDAQ:GOOG) in its Q1 2022 investor letter:
“Google (6.6% weight in the Fund): Google is one of the most extraordinary businesses of the digital age. Its mission is “to organize the world’s information and make it universally accessible and useful.” This is such a broad organizing principle for a company whose value is built on doing just that. When you think about the mass adoption of the Internet, smartphones, social and digital media, and e-commerce among billions of users every day, and the exponential growth of data that has brought, we all know how valuable Google’s role in collecting, organizing, and filtering all that information has become in our daily lives.
NVidia’s CEO Jensen Huang put the challenge really well in an interview with Tech Analyst Ben Thompson recently:
“We know that there are a trillion things on the Internet and the number things on the Internet is large and expanding incredibly fast, and yet we have this little, tiny personal computer called a phone… how do we possibly figure out of the trillion things in the internet what we want to see on our little tiny phone?
Well, there needs to be a filter in between… basically an AI, a recommender system. A recommender that figures out based on the nature of the content, the characteristics of the content, the features of the content, based on your implicit and your explicit [preferences], find a way through all of that to predict what you would like to see.
I mean, that’s a miracle! That’s really quite a miracle to be able to do that at scale for everything from movies and books and music and news and videos and you name it.”
While Huang was talking about the role of artificial intelligence more generally amidst the data explosion, it’s hard not to think of Google as most fitting the role of the Internet’s leading “recommender system,” with its de facto role as the gateway to the Internet. In fact, it’s no coincidence that Google is a leader in AI technology, which it applies across most all of its services…” (Click here to see the full text)
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