5 Best Blue Chip Stocks With Strong Balance Sheets

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 153

Although its shares may have declined 39% year to date, Alphabet Inc. (NASDAQ:GOOG) ended Q3 2022 with a net cash position of $101 billion. Alphabet Inc. (NASDAQ:GOOG) also reported net income of $13.91 billion for Q3 despite the slowing growth and the macroeconomic headwinds. With its substantial resources, Alphabet Inc. (NASDAQ:GOOG) could potentially buy back stock to add value or it could invest in new initiatives that could potentially help it grow in the future.