5 Stocks Hedge Funds Are Talking About

2. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 152

Alphabet Inc. (NASDAQ:GOOG) showcased a substantial 11.1% increase in revenue in its third quarter earnings report. Alphabet Inc. (NASDAQ:GOOG)’s operating income surged from $17.14 billion in Q3 2022 to $21.34 billion, propelled not only by heightened revenue but also by a 300 basis points expansion in operating margin. Reporting a GAAP EPS of $1.55, Alphabet Inc. (NASDAQ:GOOG) exceeded analysts’ estimates by $0.10 and exhibited a remarkable 46.2% growth compared to the previous year.

The London Company Large Cap Strategy made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2023 investor letter:

“Alphabet Inc. (NASDAQ:GOOG) – GOOG outperformed in Q3, reflecting better than expected Search revenue and sustainable momentum in Cloud. Search ad revenue accelerated sequentially and remains the largest contributor to topline growth. Slower expense growth helped margins as management continued to focus on long-term profitable growth. GOOG’s capital allocation priorities have been favorable as the company continues to invest in the business and return capital to shareholders via its buyback program. GOOG has a solid balance sheet, significant market share, and generates strong returns.”