7 Best Money Making Stocks To Buy Now

4. Alphabet Inc. (NASDAQ:GOOG)

Market Cap: $2.15 trillion

ROE: 32.91%

ROI: 28.68%

Number of Hedge Fund Holders: 174

Alphabet Inc. (NASDAQ:GOOG) owns several notable platforms such as Google Search, Google Maps, Gmail, and YouTube. The company is also known for pioneering work and research in cloud computing, quantum computing, and artificial intelligence. It is on the fourth spot in our list of the best money making stocks to buy now.

During the Q4 2024 earnings call on February 4, Alphabet Inc. (NASDAQ:GOOG) reported a quarterly revenue of $96.47 billion, up 12% year-over-year, driven by strong momentum across the business. Total operating income increased 31% during the quarter while operating margin rose by five percentage points to 32%. Net income surged 28% from last year to $26.54 billion. EPS stood at $2.15, representing a 31% growth compared to Q4 2023 and beating estimates by two cents.

Robust results in Q4 have raised investor confidence in the stock. The London Company Large Cap Strategy stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its Q4 2024 investor letter:

Alphabet Inc. (NASDAQ:GOOG) – GOOG was a top performer this quarter reflecting strong results from its ad business, Cloud growth, and margin enhancements. Investors got some clarity on the antitrust lawsuits during the quarter, but potential outcomes from these cases remain uncertain. Margins in the core business continue to improve, and growth in the Cloud business accelerated. Management has executed its expense control plans and expanded margins through better product and process organization. GOOG has a solid balance sheet, significant market share, and generates strong returns on invested capital.

Another driver of positive momentum for Alphabet Inc. (NASDAQ:GOOG) has been the recent launch of its latest quantum computing chip, called Willow, which is expected to be useful for large-scale simulation and code-breaking when quantum computing matures. The technology will help reduce errors exponentially as it scales up using more qubits. Industry experts describe this as a major breakthrough that has been pursued for nearly three decades.

Wall Street analysts are bullish on the stock, with a consensus Buy rating and an average share price upside potential of over 22%. According to Insider Monkey’s database for Q4 2024, 174 hedge funds held a stake in the company.