3. Alphabet Inc. (NASDAQ:GOOG)
Stanley Druckenmiller’s Stake Value: $312,786,000
Percentage of Stanley Druckenmiller’s 13F Portfolio: 10.15%
Number of Hedge Fund Holders: 156
Alphabet Inc. (NASDAQ:GOOG) is one of the largest US tech firms, and it is most commonly recognized for being the parent company of all Google subsidiaries. Alphabet Inc. (NASDAQ:GOOG) posted its Q3 earnings on October 26. EPS in the quarter equaled $27.99, outperforming estimates by $4.75. The $65.12 billion revenue jumped 41% year-over-year, beating estimates by $1.83 billion.
Stanley Druckenmiller increased his position in Alphabet Inc. (NASDAQ:GOOG) by 29% in the third quarter, owning 116,994 shares in the company, worth $312.78 million. Alphabet Inc. (NASDAQ:GOOG) stock represents 10.15% of the billionaire’s Q3 portfolio.
Morgan Stanley analyst Brian Nowak, keeping in mind the exceptional Q3 results, raised the price target on Alphabet Inc. (NASDAQ:GOOG) shares to $3,200 from $3,000 and kept an Overweight rating on the shares on November 2.
Alphabet Inc. (NASDAQ:GOOG) is a popular stock among the hedge funds, with 156 funds holding stakes in the company as of Q3 2021, worth almost $35 billion. The leading Alphabet Inc. (NASDAQ:GOOG) stakeholder is Chris Hohn’s TCI Fund Management, owning 2.95 million shares amounting to $7.86 billion.
Here is what Oakmark Funds has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2021 investor letter:
“Alphabet, a U.S. communication services provider, was once again a top contributor for the quarter, solidifying its rank as a top contributing stock for the one-year period. The company’s financial results repeatedly exceeded expectations. In particular, its revenue grew faster than expected and its margin trends improved across all segments. In addition, management has executed $24.4 billion of stock repurchases so far in 2021. After further examination, we recently increased our estimate of Alphabet’s intrinsic value based on the company’s better than expected operating leverage and its notable efficiency improvements. As a result, we continue to believe that Alphabet is trading at a significant discount to its intrinsic value.”
