Retirement Stock Portfolio: 5 Safe Tech Stocks to Consider

3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 156     

Alphabet Inc. (NASDAQ:GOOG) provides various products and platforms such as Google Services, Google Cloud etc. It is one of the elite safe tech stocks for a retirement stock portfolio. On November 6, YouTube, a subsidiary of Alphabet, said that it is preparing to launch a co-streaming feature called Go Live Together. At launch, creators will only be able to co-stream using a phone and not on the desktop version of YouTube. YouTube plans to expand co-creators to more creators in future.

On October 26, Evercore ISI analyst Mark Mahaney maintained an Outperform rating on Alphabet Inc. (NASDAQ:GOOG) stock and lowered the price target to $130 from $140, noting that the company’s third quarter results missed the Street/ISI across the board by a wider margin than expected.   

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 52.4 million shares worth more than $5 billion.

In its Q2 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:

“Alphabet Inc. (NASDAQ:GOOG) is the parent company of Google, the world’s largest search and online advertising company. Shares of Alphabet declined 21.6% in the quarter due to concerns about slower global growth impacting the company’s core advertising business. We retain conviction in Alphabet’s merits as it continues to benefit from growth in mobile and online video advertising, which accrues to its core assets of search, YouTube, and the Google ad network. We are further encouraged by Alphabet’s investments in Cloud, AI, and Autonomous Driving (through its Waymo subsidiary).”