5 Best Tech Stocks to Buy According to Man GLG

3. Alphabet Inc. (NASDAQ:GOOG)

Man GLG’s Stake Value: $322,402,000

Percentage of Man GLG’s 13F Portfolio: 1.13%

Number of Hedge Fund Holders: 156

The parent company of Google and Google subsidiaries like YouTube, Google AdMob, Fitbit, and Kaggle, Alphabet Inc. (NASDAQ:GOOG) is a top tech stock pick of Man GLG as of Q3 2021, with the investment firm owning 120,591 Alphabet Inc. (NASDAQ:GOOG) shares, worth $322.4 million, accounting for 1.13% of the total 13F securities. 

Chris Hohn’s TCI Fund Management is the biggest Alphabet Inc. (NASDAQ:GOOG) stakeholder as of September this year, with 2.95 million shares worth $7.86 billion. Overall, 156 hedge funds were bullish on Alphabet Inc. (NASDAQ:GOOG) as of the third quarter, with total stakes amounting to almost $35 billion. 

Following the strong Q3 results, Morgan Stanley analyst Brian Nowak on November 2 raised the price target on Alphabet Inc. (NASDAQ:GOOG) to $3,200 from $3,000 and kept an Overweight rating on the shares. 

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

“During the quarter we trimmed two positions, (which includes) Alphabet, after significant run-ups. Alphabet remains our largest holding at a 9% weight. When it rose above a 10% weight in late July, we brought it down a bit. I won’t automatically trim a position when it reaches the 10% threshold, but Alphabet nearly doubled from the summer of 2020 to 2021 and it felt responsible to take some gains.”