5 Safe Stocks To Invest In

3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 155

Alphabet Inc. (NASDAQ:GOOG) was spotted in the 13F holdings of 155 hedge funds in the first quarter. Their total stake value was $18.6 billion.

Alphabet Inc. (NASDAQ:GOOG) is an interactive media and services company and is one of the big tech companies in the market. It is based in Mountain View, California.

An Outperform rating was maintained on Alphabet Inc. (NASDAQ:GOOG) shares on July 13 by John Blackledge at TD Cowen, alongside a price target of $140.

Wedgewood Partners said this about Alphabet Inc. (NASDAQ:GOOG) in its second-quarter 2023 investor letter:

“Alphabet Inc. (NASDAQ:GOOG) was also a top contributor to performance as revenues returned to year-over-year growth after a brief period of post-pandemic advertising spending digestion. The Company’s Cloud division also turned a small profit on a roughly $30 billion revenue run-rate. The Company’s internal engineering prowess should continue to drive longer hardware useful life and better profitability for this unit over time. Alphabet and its Google subsidiary have been pioneers in AI development, creating some of the most important software and hardware specifications and standards that developers rely on today. Alphabet should be able to continue to capitalize on its long-term AI investments by rolling out product improvements for users and advertisers featuring more automation that can deliver better returns.”

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