5 Best US Stocks For Foreign Investors

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 163

Quarterly Revenue Growth: 14.30%

Alphabet Inc. (NASDAQ:GOOG), a prominent player in the technology sector, is best known for its flagship product, Google, a search engine handling billions of daily queries. The company’s portfolio extends to various platforms for video streaming and productivity, with YouTube being a standout asset. Moreover, Alphabet Inc. (NASDAQ:GOOG) is engaged in the retail of electronic devices, offering a range of products including smartphones, ultra-thin notebooks, and speakers.

As of the close of the third quarter of 2023, 163 hedge funds held stakes in Alphabet Inc. (NASDAQ:GOOG). The most significant stakeholder in the company during this period was Ken Fisher’s Fisher Asset Management, which owns a $5.72 billion stake in Alphabet Inc. (NASDAQ:GOOG).

Ensemble Capital Management made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2023 investor letter:

Alphabet Inc. (NASDAQ:GOOG) (+9.32%): Separate from all the discussion of artificial intelligence, Google’s core Search business, having experienced a significant slowdown in 2022, now shows clear signs of reacceleration. While the future of AI and its impact on Google is still subject to a healthy debate, the company seems to have put to bed investor concerns about any rapid negative impact. With Search revenue growth accelerating, and the company rolling out lots of new AI tools, the investor panic from the beginning of the year about AI immediately hurting Google appears to have been overblown.”