Forget Nvidia: Billionaires Are Buying Up This Winning Artificial Intelligence Stock Instead
You might be surprised to learn that Nvidia isn't the most widely owned megacap tech stock owned by the most prominent hedge fund billionaires. According to our research, that title belongs to Google parent company (NASDAQ: GOOGL)(NASDAQ: GOOG). The stock is owned by 11 of the top 16 billionaire-run hedge funds.
It isn't just the most notable hedge funds that are putting tons of capital into Alphabet. According to Whale Wisdom, which tracks the 13-F filings of thousands of hedge funds and institutional investors, 1,693 filers added shares of Nvidia during the first quarter, the latest for which complete data is available. That's a lot, but makes sense given the surge in AI hype. However, 1,993 of the tracked 13-F filers added shares of Alphabet during the same period. And those are just the stats for Alphabet's Class A shares.
Alphabet derives virtually all of its revenue from its Google subsidiary, with the bulk coming from the Google Services segment. This consists of the massively dominant Google Search platform, as well as Gmail, YouTube, Chrome, Android, and a ton of adjacent apps and platforms. Google's platforms are a major part of the daily lives of billions of people around the world. In fact, I used no fewer than four separate Google-owned apps while researching and writing this article.
Source Fool.com
Alphabet Inc. C Stock
The stock is an absolute favorite of our community with 28 Buy predictions and no Sell predictions.
With a target price of 167 € there is a slightly positive potential of 7.69% for Alphabet Inc. C compared to the current price of 155.08 €.
