Here’s Why Alphabet Inc (GOOG), Vale SA (ADR) (VALE) & Three Other Stocks Are Among Trending Names on Wednesday

All three main indexes are in the green this morning as investors await the Federal Reserve’s decision on whether to raise the interest rates or not. Among the stocks capturing some attention from traders today are several resource companies, one generic manufacturer, and one major tech giant.

In this article, let’s find out why investors are buzzing about Alphabet Inc (NASDAQ:GOOG), Vale SA (ADR) (NYSE:VALE), Allergan plc Ordinary Shares (NYSE:AGN), InterOil Corporation (USA) (NYSE:IOC), and Exxon Mobil Corporation (NYSE:XOM) and see what the smart money investors from our database think about each stock.

At Insider Monkey, we track around 740 hedge funds and institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on, can help retail investors generate double digits of alpha per year. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see the details here).

Bloomua / Shutterstock.com

Alphabet Inc (NASDAQ:GOOG) is trending today after the company launched Allo, a new messaging app for both iOS and Andriod which ‘can help you make plans, find information, and express yourself more easily in chat’. In Allo, users will also be introduced to a preview edition of Google Assistant, which customers can use for different tasks. Although Alphabet might have missed the boat with social media and not buying WhatsApp or Instagram, many investors believe there is an opportunity for the tech giant to gain more market share in the crucial messaging app sector (which just eclipsed social networks in terms of users) with the emergence of AI and chatbots. Andreas Halvorsen’s Viking Global reported a stake of 841,255 class C shares of Alphabet Inc (NASDAQ:GOOG) and another position containing some 1.79 million class A shares held as of the end of June.

Vale SA (ADR) (NYSE:VALE) shares have gained over 5% after Barclays upgraded its rating on the iron ore producer to ‘Equal Weight’ from ‘Underweight’. However, the investment bank maintained its $4 price target on the stock. Vale might need China’s economy to strengthen a bit before the company can fundamentally go full steam ahead again. The number of funds from our database with holdings in Vale SA (ADR) (NYSE:VALE) fell by two quarter-over-quarter to 24 at the end of June.

On the next page, we find out why investors are buzzing about Allergan, InterOil Corporation, and Exxon Mobil Corporation.