5 Tech Stock Picks of Billionaire Mario Gabelli

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 158

Alphabet Inc. (NASDAQ:GOOG) is a diversified technology company. Latest data shows that GAMCO Investors owned more than 22,839 shares of the company at the end of the fourth quarter of 2021 worth over $66 million, representing 0.56% of the portfolio. 

Elite hedge funds remain bullish on Alphabet Inc. (NASDAQ:GOOG) despite rising inflation. Among the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG), with 2.9 million shares worth more than $8.5 billion. 

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:

“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”