5 Best Fundamental Stocks To Buy

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 153

Alphabet Inc. (NASDAQ:GOOG) is a leading search engine that also provides other products and services such as ads, Android, Chrome, Gmail, and YouTube. Given the market decline, shares of Alphabet Inc. (NASDAQ:GOOG) are down over 31% and trade for a forward P/E ratio of 16.85 which could be attractive if interest rates don’t rise all that much further.

Although TikTok represents potential competition to YouTube, Alphabet Inc. (NASDAQ:GOOG) also has YouTube Shorts, which is rapidly growing. On 10/4/22, Justin Post of Bank of America cut his price target on Alphabet Inc. (NASDAQ:GOOG) to $114 from $125 but kept a ‘Buy’ rating. 153 hedge funds in Insider Monkey’s database were long Alphabet Inc. (NASDAQ:GOOG) at the end of the second quarter.