5 Best Stocks To Buy For The Next 3 Months

In this article, we discuss 5 best stocks to buy for the next three months. If you want to see more stocks in this selection, check out 10 Best Stocks To Buy For The Next 3 Months. 

5. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 152

Alphabet Inc. (NASDAQ:GOOG) posted a Q4 GAAP EPS of $1.05 and a revenue of $76.05 billion, falling short of Wall Street estimates by $0.14 and $440 million, respectively. While the revenue missed market consensus, revenue for Google Search, YouTube Ads, Google Network, Google Advertising, Google Services, and Google Cloud all exceeded Q3 figures. 

According to Wells Fargo analyst Brian Fitzgerald, despite the underwhelming rollout of Bard, the hype cycle for Generation AI (Gen AI) presents an opportunity for Alphabet Inc. (NASDAQ:GOOG). This is because there is a potential for Gen AI deployment without disrupting search monetization, and Alphabet Inc. (NASDAQ:GOOG) has a leading position in conversational AI technology. Additionally, there is a misapprehension about the drivers of search share. The analyst reiterated an Overweight rating on Alphabet’s shares on February 9, with a price target of $150.

According to Insider Monkey’s Q4 data, 152 hedge funds were long Alphabet Inc. (NASDAQ:GOOG), compared to 156 funds in the prior quarter. Chris Hohn’s TCI Fund Management is the biggest stakeholder of the company, with 54.5 million shares worth $4.8 billion. 

Diamond Hill Large Cap Strategy made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q4 2022 investor letter:

“Other bottom contributors included media and technology giant Alphabet Inc. (NASDAQ:GOOG), apparel and footwear company V.F. Corporation and utility operator Dominion Energy. We believe Alphabet’s shares underperformed on concerns of a weakening macroeconomic environment. The company also reported weaker-than-expected earnings and revenue for Q3 2022. Longer-term, we expect Alphabet’s search engine advertising, YouTube advertising and other initiatives to continue driving revenue growth. As such, we used the share price weakness this quarter to add to our position.”