5 Technology Stocks to Buy According to Billionaire Mario Gabelli

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1. Alphabet Inc. (NASDAQ: GOOG)

Number of Hedge Fund Holders: 155 

Alphabet Inc. (NASDAQ: GOOG) is ranked first on our list of 10 technology stocks to buy according to Mario Gabelli. The firm owns and runs several internet-related platforms and is headquartered in California. According to the latest filings, GAMCO Investors owned 24,270 shares in the company at the end of June 2021 worth $60 million, representing 0.51% of the portfolio. 

On July 28, investment advisory Wedbush kept an Outperform rating on Alphabet Inc. (NASDAQ: GOOG) stock and raised the price target to $3,424 from $3,127, noting that the firm had delivered another “stellar quarter” in terms of earnings. 

Out of the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in the firm with 2.9 million shares worth more than $7.3 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.”

You can also take a peek at 10 Companies that Benefit From Crypto Mining and 12 Best Artificial Intelligence Stocks To Invest In Right Now.

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