5 Best Stocks to Buy Now According to Tom Gayner’s Markel Gayner Asset Management

4. Alphabet Inc. (NASDAQ:GOOG)

Markel Gayner Asset Management’s Stake Value: $384,017,000
Markel Gayner Asset Management’s 13F Portfolio: 4.57%
Number of Hedge Fund Holders: 158

Alphabet Inc. (NASDAQ:GOOG) is a technology conglomerate best known for its search engine, Google. Canaccord analyst Maria Ripps reduced her price objective on Alphabet to $3300 from $3500 on April 27 and maintained a Buy recommendation on the stock. She stated that Alphabet Inc. (NASDAQ:GOOG)’s first-quarter results were mixed, with ad revenue increasing in line with forecasts as Search gained from strong retail performance and high travel demand. Still, YouTube suffered from a rapidly changing market.

Alphabet Inc. (NASDAQ:GOOG), on April 26, posted earnings for the first quarter. The reported EPS came in at $24.62, missing estimates by $1.14. Revenue over the period gained 23% compared to the previous year’s quarter, reaching $68.01 billion, outperforming estimates by $140 million.

Fisher Asset Management revealed a significant stake in Alphabet Inc. (NASDAQ:GOOG) in Q1, worth roughly $5.63 billion. Overall, 158 hedge funds tracked by Insider Monkey held long positions in Alphabet Inc. (NASDAQ:GOOG) in Q4, up from 156 in the previous quarter. The total stakes owned exceeded $36.63 billion.

At the end of the first quarter of 2022, Markel Gayner Asset Management held 137,493 shares in Alphabet Inc. (NASDAQ:GOOG), worth $384.02 million. The holding accounted for 4.57% of Tom Gayner’s overall portfolio.

Baron Funds, an asset management firm, in its Q1 2022 investor letter, mentioned Alphabet Inc. (NASDAQ:GOOG). Here is what the fund said:

“We have modestly reduced the size of our position in Alphabet Inc. (NASDAQ:GOOG) (from 6.5% at the end of the fourth quarter of 2021 to 5.3% as of the end of the first quarter of 2022), after the stock rallied 64% in 2021 and continued outperforming during the first quarter, declining just 3%.”