5 Best Big Name Stocks to Buy Now

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In this article, we discuss the 5 best big name stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Big Name Stocks to Buy Now.

5. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 155     

Alphabet Inc. (NASDAQ:GOOG) provides various products and platforms such as Google Services, Google Cloud, and YouTube. Recent reports suggest that Google has decided to combine Google Brain and DeepMind, two AI startups it controls, to streamline AI-related business efforts. This consolidation aims to foster collaboration and maximize the potential of their combined expertise in artificial intelligence. 

On May 11, Bank of America analyst Justin Post maintained a Buy rating on Alphabet Inc. (NASDAQ:GOOG) stock with a price target of $128, appreciating the AI integrations of the firm into new and existing products.  

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel investment Group is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 24 million shares worth more than $2.5 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:

“Alphabet Inc. (NASDAQ:GOOG) is the parent company of Google, the world’s largest search and online advertising company. Shares of Alphabet declined 21.6% in the quarter due to concerns about slower global growth impacting the company’s core advertising business. We retain conviction in Alphabet’s merits as it continues to benefit from growth in mobile and online video advertising, which accrues to its core assets of search, YouTube, and the Google ad network. We are further encouraged by Alphabet’s investments in Cloud, AI, and Autonomous Driving (through its Waymo subsidiary).”

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