5 Stocks You Should Sell in 2022 According to Billionaire Dan Loeb

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1. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 160

On June 2, Piper Sandler analyst Thomas Champion trimmed his price target on Alphabet Inc. (NASDAQ:GOOG) to $2,775 from $2,900 and reiterated an Overweight rating on the shares.

On June 23, Alphabet Inc.’s (NASDAQ:GOOG) Google released information about the next update of its Chrome web browser for iOS. The company reported that it will be debuting five new features for iPhone and iPad users which include enhanced security from phishing and malicious software, autofill passwords on multiple applications, and faster translation of webpages into the user’s native language, among others.

Shares of Alphabet Inc. (NASDAQ:GOOG) have declined by 18.39% year-to-date as of June 24. In the first quarter of 2022, Dan Loeb’s hedge fund exited Alphabet Inc. (NASDAQ:GOOG) after discarding its Q4 2021 stakes of $614.17 million in the company.

Insider Monkey found 160 hedge funds bullish on Alphabet Inc. (NASDAQ:GOOG) at the close of Q1 2022. These funds held collective stakes of $29.68 billion in the company, down from $36.62 billion a quarter ago with 158 positions.

Here is what Baron Funds said about Alphabet Inc. (NASDAQ:GOOG) in its recently published first-quarter 2022 investor letter:

“We have modestly reduced the size of our position in Alphabet Inc. (NASDAQ:GOOG) (from 6.5% at the end of the fourth quarter of 2021 to 5.3% as of the end of the first quarter of 2022), after the stock rallied 64% in 2021 and continued outperforming during the first quarter, declining just 3%.”

You can also take a look at 10 Stocks Warren Buffett is Selling and 10 Stocks Stanley Druckenmiller is Selling.

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