5 Best Motley Fool Stocks To Buy Now

2. Alphabet Inc. (NASDAQ:GOOG)

Motley Fool Asset Management’s Stake Value: $63,964,000
Percent of Motley Fool Asset Management’s 13F Portfolio: 4.22%
Number of Hedge Fund Holders: 155

Alphabet Inc. (NASDAQ:GOOG) reported its Q3 2021 results on October 26. The company posted a GAAP EPS of $27.99, beating the estimates by $4.67. Alphabet Inc. (NASDAQ:GOOG) also saw a 41% year-over-year growth in revenue at $65.1 billion.

Of the 873 hedge funds tracked by Insider Monkey, 155 hedge funds reported owning stakes in Alphabet Inc. (NASDAQ:GOOG) in Q2, compared with 159 in the previous quarter. The total value of these stakes is over $33.7 billion.

Motley Fool holds 25,521 shares in Alphabet Inc. (NASDAQ:GOOG) in Q2, worth roughly $64 million. The company represents 4.22% of the hedge fund’s 13F portfolio. Recently, Jefferies lifted its price target on Alphabet Inc. (NASDAQ:GOOG) to $3,500, while keeping a Buy rating on the shares.

Alger mentioned Alphabet Inc. (NASDAQ:GOOG) in its Q3 2021 investor letter. Here is what the firm has to say:

“Alphabet Inc. was among the top contributors to performance during the third quarter. Alphabet is a leading internet search provider and is a beneficiary in the share shift of advertising dollars from traditional mediums like television, radio and newspapers to digital platforms. The company is a leader in implementing Al, autonomous vehicles and cloud computing it and owns the highly trafficked YouTube property. Alphabet contributed to performance due to a strong quarterly report highlighted by revenue growth that beat consensus expectations across segments. The company’s core search revenues have increased 10% over the past two years, with cloud computing increasing 8%. Results from YouTube also exceeded expectations. When discussing quarterly results, Alphabet management said retail, entertainment and travel were end markets that were particularly strong. The fixed cost structure of Alphabet’s search service resulted in profitability resulting from the increase in revenues being better than expected.”