5 Best ESG Stocks to Buy Now

2. Alphabet Inc. (NASDAQ: GOOG)

Number of Hedge Fund Holders: 159   

Alphabet Inc. (NASDAQ: GOOG) stock has returned 74% to investors in the past twelve months. It is placed second on our list of 10 best ESG stocks to buy now. The firm is a technology company with stakes in several internet-related businesses. Alphabet was one of the first large corporations in the world to go carbon neutral and has since maintained ahead of competitors in sustainable environmental and governance practices. 

On June 30, news publication Bloomberg reported that Alphabet Inc. (NASDAQ: GOOG) and software giant Microsoft had ended an agreement not to lobby against each as an antitrust drive against technology giants heats up in the United States.  

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.”