5 Stocks Trending on Robinhood

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1. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 158

Alphabet Inc. (NASDAQ:GOOG) is a multinational technology conglomerate that is positioned as one of the Big Five US technology firms. Alphabet Inc. (NASDAQ:GOOG) is one of the trending stocks on Robinhood lately. 

Tigress Financial analyst Ivan Feinseth on March 18 raised the price target on Alphabet Inc. (NASDAQ:GOOG) to $3,670 from $3,540 and reiterated a Strong Buy rating, stating that his updated target represents a potential return of 37% from current levels. The analyst observed Alphabet Inc. (NASDAQ:GOOG)’s “extremely strong” Q4 results and that its ongoing investment in AI “continues to drive increasingly focused and helpful experiences for users and businesses”.

As of the fourth quarter of 2021, Chris Hohn’s TCI Fund Management is the largest stakeholder of Alphabet Inc. (NASDAQ:GOOG), with 2.95 million shares worth $8.5 billion. Overall, 158 hedge funds were bullish on Alphabet Inc. (NASDAQ:GOOG) at the end of December 2021.

Here is what Vulcan Value Partners has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q4 2021 investor letter:

“In contrast, we made a different kind of mistake about a decade ago. Google, now Alphabet, performed very well for us while we owned it. The company kept outperforming our assumptions and we kept lowering them to be conservative. “Trees do not grow to the sky.” The stock kept going up and our value grew but did not keep pace with the stock. It hit our estimate of fair value and we sold it with a nice gain, patting ourselves on the back. We kept following the company and what they actually did over the next several years was roughly double the assumptions we used to value it. Therefore, our value was too conservative, and we sold it too cheaply, missing many years of compounding. Fortunately, we experienced some volatility several years ago that allowed us to purchase Alphabet (Google) again with a margin of safety.”

You can also take a look at 10 Best Undervalued Stocks According to Hedge Funds and 10 Gold Stocks to Buy Amid Russian Attack on Ukraine

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