Insiders Are Buying the Dip on These 5 Stocks

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1. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders in Q1 2022: 160 

Number of Hedge Fund Holders in Q4 2021: 158

Decrease in Share Price Year-to-Date (through July 26th): 21.69%

Return since July 26th: -8.2%

Alphabet Inc. (NASDAQ:GOOG) is a diversified technology company. On July 26, the company posted earnings for the second quarter of 2022, reporting earnings per share of $1.21, missing market estimates by $0.06. The revenue over the period was $69.9 billion, up more than 12% compared to the revenue over the same period last year and missing estimates by $110 million. The revenue for the Google Search and other services was around $40 billion while YouTube advertisements brought in $7.34 billion for the firm. 

On July 27, Susquehanna analyst Shyam Patil maintained a Positive rating on Alphabet Inc. (NASDAQ:GOOG) stock and lowered the price target to $150 from $187, noting that the firm was not immune to macro pressures on the market. 

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 2.3 million shares worth more than $6.6 billion. 

In its Q1 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:

“We have modestly reduced the size of our position in Alphabet Inc. (NASDAQ:GOOG) (from 6.5% at the end of the first quarter of 2022 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 peek at 10 Best Stocks for Animal Lovers and 10 Best Nickel Stocks to Buy Now.

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