5 Best Tech Stocks to Buy Now

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 155

As of the end of June, 155 hedge funds in Insider Monkey’s database were bullish on  Alphabet Inc. (NASDAQ:GOOG), down from 159 in the previous quarter. 

On October 12, JP Morgan analyst Doug Anmuth kept an Overweight rating on Alphabet Inc. (NASDAQ:GOOG), stating a price target of $3250. He said that company shares were up 60% year-to-date, and Alphabet Inc. (NASDAQ:GOOG) continues to be the most liked, best owned, and least discussed Big Five stock.

Alphabet Inc. (NASDAQ:GOOG) announced earnings for the second quarter on July 27. The actual EPS was $27.26, exceeding estimated EPS by $8.16. Similarly, the revenue for  Alphabet Inc. (NASDAQ:GOOG) was $61.88 billion, beating estimates by $5.8 billion. 

Wedgewood Partners mentioned Alphabet Inc. (NASDAQ:GOOG) in its Q3 2021 portfolio. Here is what they said: 

“Alphabet’s core Google search business accelerated to multiyear highs, up nearly +70% driven in part by advertisers rushing to the Company’s Android platform. We estimate Android runs on nearly three-quarters of all smartphones; however, its share of ad spend is lower. Recent policy changes to Apple’s iOS operating system have made it more difficult for advertisers to get a return on its ad spend across the Apple ecosystem. These changes should help close the gap between Android and iOS advertising share and sustain Alphabet’s torrid growth.”