5 Best Stocks to Buy Now According to Billionaire Ken Fisher

4. Alphabet Inc. (NASDAQ:GOOG)

Fisher Asset Management’s Stake Value: $4.56 billion

Percentage of  Fisher Asset Management’s 13F Portfolio: 3.22%

Number of Hedge Fund Holders: 153 (GOOG), 191 (GOOGL)

Alphabet Inc. (NASDAQ:GOOG) is an American multinational technology conglomerate holding company that operates as the parent company of leading technology brands like Google and YouTube, among other notable names. A large position in Alphabet’s class A shares accounts for about 3.22% of Fisher Asset Management’s portfolio, with the hedge fund owning a $4.56 billion stake in the shares.

On August 3, Tigress Financial analyst Ivan Feinseth raised the price target on Alphabet Inc. (NASDAQ:GOOG) to $186 from $183 and maintained a ‘Strong Buy’ rating on the shares, citing his view that the tech giant’s recently reported Q2 results highlight the resiliency of its core business in Cloud and Search. The analyst also states that Alphabet’s ongoing investment in Artificial Intelligence will further drive “increasingly focused and helpful experiences for users and businesses.”

Alphabet Inc. (NASDAQ:GOOG)’s class C shares were held by 153 hedge funds at the end of the second quarter of 2022, while its class A shares were owned by 191. Among the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG), with 2.3 million class C shares worth more than $6.6 billion.

Here is what Arch Capital had to say about Alphabet Inc. (NASDAQ:GOOG) in its Q2 2022 investor letter:

“In May we decided to buy Alphabet (parent company of Google, YouTube, and Android). Our thesis was simple. Alphabet has billions of locked-in users around the globe with businesses like Search, Maps, and YouTube that should grow in-line or faster than worldwide GDP. With all the cash these businesses generate, management is able to reinvest in Google Cloud, Other Bets projects like Waymo, and return cash to shareholders via share repurchases. At an enterprise value-to-free cash flow (EV/FCF) of around 20 at the time of our purchase, we believe this sets up shareholders for low risk 15%+ returns over the next five years.”