5 Best Data Stocks to Buy Now

Page 5 of 5

1. Alphabet, Inc. (NASDAQ: GOOG)

Number of Hedge Fund Holders: 159

Alphabet, Inc. (NASDAQ: GOOG) is a data powerhouse enabling internet and mobile app ads for millions of consumers all over the world, thanks to its dominance in search and apps business.

Alphabet, Inc. (NASDAQ: GOOG) reported $26.29 in EPS for the first quarter of this year, versus estimates of $15.66. The company’s revenue for that quarter was valued at $55.31 billion, representing an 18% growth year over year. Alphabet, Inc. (NASDAQ: GOOG) also has a gross profit margin of 54.32% and a forward PE ratio of 28.96. The stock gained 45.17% in the past 6 months and 45.4% year to date.

By the end of the first quarter of 2021, 159 of the 886 hedge funds tracked by Insider Monkey held stakes in Alphabet, Inc. (NASDAQ: GOOG). The value of their stakes was roughly $2.91 billion. This is compared to 157 hedge fund holders in the previous quarter, with stakes worth $2.05 billion.

Our calculations show that Alphabet, Inc. (NASDAQ: GOOG) ranks 6th in our list of the 30 Most Popular Stocks Among Hedge Funds.

Artisan Partners, a high value-added investment management firm, mentioned Alphabet, Inc. (NASDAQ: GOOG) in their first quarter investor letter. Here’s what they said:

“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”

You can also take a peek at the 15 Most Valuable Cloud Computing Companies and 14 Best Cloud Computing Stocks To Invest In.

Page 5 of 5