5 Quality Stocks to Buy with Shares Down Over 30% YTD

2. Alphabet Inc. (NASDAQ:GOOG)

Percentage of iShares MSCI USA Quality Factor ETF Holdings: 1.75%

Year to Date Performance as of September 22: -30.49%

Number of Hedge Fund Holders: 153

Alphabet Inc. (NASDAQ:GOOG), based in Mountain View, California, is the parent company of several companies including the Google, Verily Life Sciences, GV (formerly Google Ventures), Calico, and X-the moonshot factory. Majority of its revenue is generated by Google Services which comprises of ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Although it is a blue chip stock, shares of Alphabet Inc. (NASDAQ:GOOG) are down over 30% as of September 22 due to the weaker market.

Alphabet Inc. (NASDAQ:GOOG) released the financial results for Q2 2022 earlier this year in July. Its revenue increased by 13% y-o-y to $69.7 billion, while its net income decreased by 16% y-o-y to $16 billion, for three months ended June 30, 2022. It reported a normalized EPS of $1.21, missing the consensus by $0.08.

Alphabet Inc. (NASDAQ:GOOG) is one of the most commonly owned stock among the 895 hedge funds tracked by Insider Monkey. As of Q2 2022, 153 hedge funds owned shares of Alphabet Inc. (NASDAQ:GOOG), valued at $22.3 billion.