5 Best Big Stocks To Invest In

4. Alphabet Inc. (NASDAQ: GOOGL)

Number of Hedge Fund Holders: 190

Alphabet Inc. (NASDAQ: GOOGL) is a California-based American multinational tech company known previously as Google. Its notable products and services include the search engine Google Search, video sharing website YouTube and cloud computing service called Google Cloud Platform. It is ranked fourth on our list of 12 best big stocks to invest in. The stock has returned over 76.36% to investors over the course of the past year.

At the end of the second quarter of 2021, 190 hedge funds in the database of Insider Monkey held stakes worth $26.83 billion in Alphabet Inc. (NASDAQ: GOOGL), up from 185 the preceding quarter worth $24.57 billion.

In its Q2 2021 investor letter, Alger Spectra Fund, the fund by the investment management firm Alger, mentioned Alphabet Inc. (NASDAQ: GOOGL). Here is what the fund had to say:

“Alphabet Inc. was among the top contributors to performance. Alphabet’s Google is a leading search engine, which has allowed the company to become a beneficiary of the shift of advertising dollars from traditional mediums like television, radio and newspapers to digital platforms. The company is also a leader in implementing artificial intelligence and developing autonomous vehicles and owns the highly trafficked YouTube service. Alphabet contributed to performance due to a strong quarterly report that was highlighted by a meaningful acceleration in advertising revenues reflecting a robust, broad-based demand environment with notable strength in retail and improvement in travel-related businesses. Profitability was also better than expected as the revenue growth exceeded the rate at which costs for staffing, office expenses, travel and entertainment increased.”