Stocks On The Rise: 5 Best To Buy Now

Page 5 of 5

1. Alphabet Inc. (NASDAQ: GOOG)

Number of Hedge Fund Holders: 159   

Alphabet Inc. (NASDAQ: GOOG) is placed first on our list of the stocks on the rise and the 15 best to buy now. The firm operates as a technology company and is headquartered in California. It also offers online advertising services. On August 4, following a decision by the company to allow advertisements related to Bitcoin – the most popular cryptocurrency – on its platform, the price of Bitcoin jumped above $40,000. In the second quarter earnings, the firm beat market expectations on earnings per share by $7.99.

On July 28, investment advisory JPMorgan raised the price target on Alphabet Inc. (NASDAQ: GOOG) stock to $3,250 from $2,875, highlighting that key components of a bull thesis for the firm were playing out in the second quarter. 

Out of the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in the firm with 2.9 million shares worth more than $6.1 billion. 

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ: GOOG) was one of them. Here is what the fund said:

“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”

You can also take a peek at 10 Best Medical Stocks Under $10 and 15 Best Consumer Discretionary Stocks to Buy Now.

Page 5 of 5