5 Stocks to Invest in Now According to Anthony Bozza’s Lakewood Capital

3. Alphabet Inc. (NASDAQ:GOOG)

Lakewood Capital Management Stake Value: $147,992,000
Percentage of Lakewood Capital Management’s 13F Portfolio: 6.27%
Number of Hedge Fund Holders: 158 (GOOG), 209 (GOOGL) 

Google’s parent firm, Alphabet Inc. (NASDAQ:GOOG), is a worldwide tech corporation based in the United States. As of the end of the fourth quarter of 2021, Lakewood Capital owned 51,084 Class A shares in Alphabet Inc. (NASDAQ:GOOG) worth $147.99 million, representing 6.27% of the hedge fund’s investment portfolio.

On February 2, Stifel analyst Scott Devitt boosted his price target on Alphabet Inc. (NASDAQ:GOOG) to $3,500 from $3,200 and maintained a ‘Buy’ rating on the shares after the company reported another solid quarter. Alphabet Inc. (NASDAQ:GOOG) posted its fourth quarter financial results on February 1, reporting EPS of $30.69 that beat estimates by $3.39. In addition, revenue over the period rose by 32.4% year-over-year, reaching $75.32 billion and outperforming estimates by $3.51 billion.

Tenere Capital, managed by Daniel Benel, is one of Alphabet Inc. (NASDAQ:GOOG)’s many stakeholders as of December 31, holding 3,674 Class A shares of the company worth $10.64 million. Overall, 158 funds were long Alphabet’s Class C shares as of the end of 2021, up from 156 funds in the third quarter of 2021, while 209 were long the company’s Class A shares, up from 195 a quarter earlier.

Polen Capital, in its fourth-quarter 2021 investor letter discussed its stance on Alphabet Inc. (NASDAQ:GOOG). Here is what the fund said:

“For the full year, the top performers included Alphabet. Alphabet’s business continues to compound at what we believe to be a healthy rate. The company reported a 40% increase in third-quarter revenues year over year and likely earned approximately $70 billion in incremental revenue in 2021.”