5 Best Strong Buy Stocks To Invest In

4. Alphabet Inc. (NASDAQ:GOOG)

Average Upside Potential as of March 20: 20.81%

Number of Hedge Fund Holders: 152

Alphabet Inc. (NASDAQ:GOOG) was held by 152 hedge funds at the end of Q4 2022. These funds held collective positions worth $17.65 billion in the company. As of December 31, TCI Fund Management is the largest shareholder in the company and has a stake worth 4.8 billion.

On March 17, Exane BNP Paribas analyst Stefan Slowinski upgraded Alphabet Inc. (NASDAQ:GOOG) to Outperform from Neutral and reiterated his $123 price target on the stock. Over the past 3 months, the stock has received 9 Buy ratings from Wall Street analysts and has a consensus Strong Buy rating. The stock has an average price target of $123.78, which implies an upside of 20.81% from current levels. Alphabet Inc. (NASDAQ:GOOG) is one of the best Strong Buy stocks to buy now.

Here is what Weitz Investment Management had to say about Alphabet Inc. (NASDAQ:GOOG) in its Q4 2022 investor letter:

“Unfortunately, the performance story of the year is told by the Fund’s detractors. Now, weakening ad spending across all channels has added insult to injury, and concerns have spread to the other dominant digital ad player, Alphabet Inc. (NASDAQ:GOOG) — parent of Google and YouTube.

Meta, Alphabet, Amazon and CarMax were all top detractors for the quarter and calendar year periods (FIS and Liberty Broadband, respectively, complete the quarterly and calendar-year detractor lists.) To varying degrees, each is managing through cyclical challenges during a period of substantial investor pessimism. Drawdowns of this magnitude are painful, and it may be prudent for management to moderate the pace of some investments, but we remain encouraged by their long-term focus. In the short run, cutting spending indiscriminately to “defend earnings” may lessen the pain of a drawdown, but it seldom grows a company’s business value — the ultimate prize.”