5 Best FAANG Stocks To Buy Now

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 153

Alphabet Inc. (NASDAQ:GOOG) is a communication services company, also one of the five Big Tech companies, offering products like Google Services and the Android software. It is based in Mountain View, California.

Justin Post at Bank of America holds a Buy rating on shares of Alphabet Inc. (NASDAQ:GOOG) as of October 4. The analyst also placed a $114 price target on the stock.

Over the next three to five years, Alphabet Inc.’s (NASDAQ:GOOG) EPS is expected to grow by 14.9%. The company’s operating cash flow growth year-over-year stands at 17.49%.

There were 153 hedge funds long Alphabet Inc. (NASDAQ:GOOG) in the second quarter, and 160 funds long the stock in the previous quarter. Their total stake values were $22.2 billion, and $29.7 billion, respectively.

Lakehouse Capital, an investment management company, mentioned Alphabet Inc. (NASDAQ:GOOG) in its July 2022 investor letter. Here’s what the firm said:

Alphabet Inc. (NASDAQ:GOOG) reported another strong quarterly result despite the tough macroeconomic conditions. Revenue increased by 13% as Search proved resilient, primarily led by strength in the travel and retail verticals. YouTube advertising growth was lighter and moderated due to a tough comparison period and a general softening in brand advertising spend. That said, YouTube’s user engagement and time spent still continues to grow which bodes well for future monetisation opportunities. Google Cloud outpaced the company’s overall growth with revenue increasing by 36% and while it has yet to show any signs of profitability, we remain supportive of Alphabet continuing to reinvest in its cloud business given the size of the market opportunity ahead. On the cost front, the company added another 10,000 employees during the quarter, but notably, the CFO mentioned that hiring will likely slow down over the next twelve months as the company focuses on greater operating efficiency. Overall, we’re pleased with how the company has performed and are confident that management will be able to control costs, if or when the economic environment becomes more challenging.”