10 Most Profitable NASDAQ Stocks Today

3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 156

Net Income (TTM) as of December 31, 2022: $59.97 billion

Alphabet Inc. (NASDAQ:GOOG) generated a net income of $59.97 billion for the trailing twelve-month period that ended on December 31, 2022. On February 2, the company reported that its EPS for the fiscal fourth quarter of 2022 amounted to $1.05 and the company  generated a revenue of $76.05 billion. Alphabet Inc. (NASDAQ:GOOG) is the third most profitable NASDAQ stock today.

Alphabet Inc. (NASDAQ:GOOG) was held by 156 hedge funds at the end of Q3 2022. The total stakes of these hedge funds amounted to $19.31 billion. As of December 31, TCI Fund Management has a position worth $4.8 billion in Alphabet Inc. (NASDAQ:GOOG) and is the largest investor in the company.

Here is what Diamond Hill Capital had to say about Alphabet Inc. (NASDAQ:GOOG) in its Q4 2022 investor letter:

“Other bottom contributors included media and technology giant Alphabet Inc. (NASDAQ:GOOG), apparel and footwear company V.F. Corporation and utility operator Dominion Energy. We believe Alphabet’s shares underperformed on concerns of a weakening macroeconomic environment. The company also reported weaker-than-expected earnings and revenue for Q3 2022. Longer-term, we expect Alphabet’s search engine advertising, YouTube advertising and other initiatives to continue driving revenue growth. As such, we used the share price weakness this quarter to add to our position.”