Billionaire Bill Ackman Upped His Bet on Google Parent Alphabet. Here's Why That Could Be a Smart Move.
Some super-wealthy investors strongly believe in diversification. But not all of them. Bill Ackman is a good case in point.
Ackman's net worth currently stands at $3.6 billion, according to Forbes. His Pershing Square Capital Management owns only eight positions. And two of them are Google parent (NASDAQ: GOOG) (NASDAQ: GOOGL), with the hedge fund holding both the class A shares and the class C shares.
What's more, Ackman just upped his bet on Alphabet. Here's why that could be a smart move.
Source Fool.com
Alphabet Inc. A Stock
€147.56
-3.380%
With 94 Buy predictions and not a single Sell prediction Alphabet Inc. A is an absolute favorite of our community.
With a target price of 177 € there is a slightly positive potential of 19.95% for Alphabet Inc. A compared to the current price of 147.56 €.
