4 Best Stocks to Buy Now According to This Under-the-Radar Value Investor

2. Alphabet Inc. (NASDAQ:GOOG)

AltaRock Partners’ Stake Value: $736,873,000

Percentage of AltaRock Partners’ 13F Portfolio: 22.73%

Number of Hedge Fund Holders (Class A stock + Class C stock): 347

Though AltaRock Partners increased its stake in the class A stock of Alphabet Inc. (NASDAQ:GOOG) marginally by 1%, the company still dropped to the second spot in the fund’s 13F portfolio at the end of Q2 from the top spot at the end of March. Funds covered by us that initiated a stake in Alphabet Inc. (NASDAQ:GOOG) during the second quarter included Sander Gerber’s Hudson Bay Capital Management and billionaire Stephen Mandel’s Lone Pine Capital.

On August 12, a press release from Australia’s competition regulator, Australian Competition & Consumer Commission (ACCC), revealed that a Federal Court had fined the search and advertising giant A$60 million or $42.7 million for misleading users over the collection of their personal data. In the press release, ACCC Chair, Gina Cass-Gottlieb, said:

“This significant penalty imposed by the Court today sends a strong message to digital platforms and other businesses, large and small, that they must not mislead consumers about how their data is being collected and used.”

Earlier this week, The Wall Street Journal reported that Alphabet Inc.’s  (NASDAQ:GOOG) subsidiary company YouTube is in advance talks with other streaming giants and entertainment companies for a streaming video marketplace. According to the report, the platform, which internally at Alphabet Inc.  (NASDAQ:GOOG)  is being referred to as ‘Channel Store’, will allow users to buy subscriptions to other services like Hulu, HBO Go, Netflix and others.